Eni formalized today to the Libyan counterpart NOC the revocation of the Force Majeure status on exploration areas A and B (onshore), and C (offshore), of which Eni is operator with a 42,5% stake, with BP at 42.5% and Libyan Investment Authority at 15%.
Force Majeure, declared in 2014, is revoked following the completion of a Security Risk Assessment by Eni, to verify the security conditions in the areas where the exploration program will be carried out; this study gave positive results.
With the revocation of Force Majeure by the JV, Eni, operator of the blocks, will be able to resume the contractually envisaged activities in exploration basins, some of which are close to the Wafa gas plants.
With an 80% share of national production (1,6 bscfd in 2022), Eni is the leading gas producer in the country and the leading supplier for the domestic market. The company has been operating in Libya since 1959 and currently has a large portfolio of assets in exploration, production and development. Production activities are operated through the joint venture Mellitah Oil and Gas BV (Eni 50%, NOC 50%). Equity production was 165.000 barrels of oil equivalent per day in 2022.