ENI, the Italian explorer, has officially revoked the force majeure status on exploration areas A and B (onshore) and C (offshore) in collaboration with its Libyan counterpart, NOC. ENI operates with a 42.5% stake, along with BP at 42.5% and the Libyan Investment Authority at 15%.
The force majeure, declared in 2014, has been lifted after ENI’s completion of a Security Risk Assessment to evaluate the security conditions in the respective areas.
ENI, as operator of the blocks, will now be able to resume the contract activities in exploration basins, some of which are located close to Wafa’s gas facilities.
ENI, with an 80% share of Libya’s national production at 1.6 Bscf/d in 2022, holds the position of the country’s leading gas producer and domestic market supplier.
Having had a presence in Libya for 64 years, ENI manages a substantial portfolio of exploration, production, and development assets.
These operations are carried out through the joint venture company Mellitah Oil and Gas BV (ENI 50%, NOC 50%). In 2022, equity production reached 165,000 barrels of oil equivalent per day.
