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Reply #73: They did reduce the contract share, but they got more exploration rights. [View All]

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joshcryer Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-20-11 12:56 PM
Response to Reply #54
73. They did reduce the contract share, but they got more exploration rights.
So basically the companies traded their share of the overall profits for more ability to explore new wells and to expand out. It was a win win for the companies especially since their contracts go out until 2037. There's a reason the companies are demanding that their contracts be recognized. Gaddafi basically leased them a huge swath of the country.
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