European oil companies Monday were watching developments in Libya closely to gauge when they may be able to return to the country and restart oil and gas operations.
Companies have been on the sidelines since they pulled out from Libya earlier this year as the uprising against the regime of Moammar Qadhafi turned into a civil war.
Libya had been producing around 1.6 million b/d of oil before the war, with exports of around 1.3 million b/d, but these figures have since dropped to close to zero.
With the war seemingly nearing an end after rebels took control of most of the capital Tripoli, Italy's Eni, one of the biggest foreign investors, was reportedly already sending some staff back to Libya.
Italian foreign minister Franco Frattini told Italian television that some Eni workers had gone to Benghazi in eastern Libya to discuss restarting operations, according to Italy's ANSA news agency.
Eni declined to comment on the report.
The Italian company was one of a number whose share price was boosted Monday at the prospect of an end to hostilities and a resumption of oil production and exports from the North African country.
At 1030 GMT, Eni shares were up 5.3% in Milan, while OMV was up 4.3% in Vienna, Total up 3.4% in Paris and Repsol up 2.1% in Madrid.
Eni is the largest foreign operator in Libya in terms of production -- it operated some 550,000 boe/d of production in 2010 with 270,000 boe/d net to the company.
Of the main producers in Libya, OMV was one of the most affected in terms of percentage of output lost.
Before the crisis, the Austrian company produced some 33,000 boe/d in Libya out of a total of around 318,000 boe/d.
"We are monitoring the situation, and in particular the further, recent developments very closely," an OMV spokesman said. "At present it cannot be confirmed when production will restart."
"We had initial contact with the representatives of the Transitional Council during the course of a meeting with [Austrian] Foreign Minister [Michael] Spindelegger at the end of June," he added.
Repsol's Libyan production was 41,000 boe/d net to the company before the hostilities began in the country.
A spokeswoman for Spain's Repsol said it was "too early" to talk about a possible return of the company's workers to Libya, but that the company was watching developments.
Once workers do go back in, Repsol expects to be able to restart all of its oil-producing wells in around four weeks, she said.
Total produced an average of 55,000 b/d from its Libyan operations last year or 2.6% of its total output.
A spokeswoman for Total said it was too early for the company to be able to comment on its Libyan operations.
Germany's Wintershall also produced a large portion of its total output in Libya, and was forced to shut in operated production of around 100,000 boe/d because of the unrest.
