Repsol, a Spanish energy company, has restarted exploratory drilling in Libya’s Murzuq Basin after suspending operations in 2014. The Libyan National Oil Company (NOC) announced the development, emphasizing the significance of renewed foreign investment in Libya’s energy sector.
The drilling project targets the exploratory well A1-2/130, known as Muammal Nisr, situated 800 kilometers south of Tripoli and 12 kilometers from the Sharara oil field. Operations commenced on December 31, 2024, aiming to reach a depth of 6,050 feet and explore the Mumaniyyat formation, which has been identified as a promising hydrocarbon extraction site.
Repsol’s return highlights Libya’s increasing oil sector stability and its potential to drive local economic recovery. The NOC commended this collaboration as a step toward optimizing Libya’s resource potential for both domestic and international markets.
