Italian energy giant Eni and partner the National Oil Corporation of Libya (NOC) have agreed to develop the Structures A&E giant gas project with overall estimated investments of $8 billion including a related carbon capture and storage facility, confirming an earlier Upstream exclusive that the final investment decision would be taken in 2023. Structures A&E will be is the first major project in Libya since the early 2000s. It involves development of two gas fields - the A and E structures - located in contractual area D, offshore Libya. Eni is the leading international gas producer in Libya, with a share of 80% of the national production (1.6 billion cubic feet per day in 2022). Its operations are run through the joint company Mellitah Oil and Gas, a 50:50 Eni-NOC joint venture and the average equity production last year was 165,000 barrels of oil equivalent per day.

Source: Libya Today January 29, 2023 06:48 UTC