Decree No. (203) of 1988 on approving certain agreements in the field of oil

The General People’s Committee

Decree No. (203) of 1988 AD on Approving Certain Agreements Concluded in the Field of Oil

Upon review of:

● The Petroleum Law No (25) of 1955 AD, as amended;

● The Secretariat of the General People’s Congress Decree No. (10) of 1979 AD on the Reorganization of the National Oil Corporation;

● The General People’s Committee Decree No. (158) of 1986 on distributing the Functions of the Secretariat of Oil; and

● The General People’s Committee letter dated 5 Jumada al-Thani 1397 FDP, corresponding to 24/1/1988 AD, and

● Based on the submission of the Secretary of the Management Committee of the National Oil Corporation in his letter dated 1 Rajab 1397 FDP, corresponding to 28/2/1988 AD,

The General People’s Committee has decreed the following:

Article (1)

The sale agreement and certain supplementary agreements concluded by and between the National Oil Corporation and the German company VEBA in Tripoli on 11 Rajab 1397 corresponding to 28/2/1988, shall be approved. Such agreements are as follows:

a. Sale agreement;

b. Sharing agreement;

c. Operation agreement; and

d. Asal, Cyrenaica and Port of Cyrenaica pipelines Agreement.

Article (2)

Any provision that is contrary to the provisions of this Decree shall be repealed.

Article (3)

This Decree shall be implemented by the competent bodies and published in the official gazette.

The General People’s Committee

Issued on: 25 Sha’ban 1397 FDP

Corresponding to: 12/4/1988 AD