OMV sees 12-18 month output recovery in Libya

It will take 12 to 18 months for oil production in Libya to get back to pre-war levels, the chief executive of energy group OMV told Reuters in an interview, adding that he wanted his company to expand there if possible.

OMV, which derived around a tenth of its oil from Libya before the war, will send a team to the North African country this week to inspect its facilities, CEO Gerhard Roiss said.

"Hopefully we can see all our upstream facilities there and then get the first idea of what is damaged, how long it will take us to go onstream again," he said on the sidelines of OMV's capital markets day in Istanbul.

"In the end it could last one to one-and-a-half years until you are back to the way you have been before the war," he said, referring to production.

OMV's Libyan production was normal until February 20, then slumped to zero as the revolt against Muammar Gaddafi's rule forced it to turn to other countries for oil. It has said production is unlikely to start again this year.

The group has a long-term stake in Libya with 12 exploration and production licences and Libyan petroleum contracts running up to 2032 with the state National Oil Corporation (NOC).

Roiss said he had no indication that the NOC was planning to change any of these contracts.

"When our people go back to Libya we will meet the new chief executive of the National Oil Company and have first talks with him ... We have no indication of any changes (to contracts). We do not expect them," he said.

Asked whether OMV would try to become less dependent on Libya because of the potential for political instability, Roiss said the contrary was the case.

"We are in Libya since 1985 and we have contracts lasting up to 20 years into the future. Libya is a long-term investment. If we have a chance to increase our portfolio in Libya we would be prepared to do it. Libya is key," he said.

OMV rival Eni, which is Libya's leading foreign oil producer, led the charge back into Libya a month ago when Gaddafi's rule disintegrated and the Italian group has made frequent visits since.