Today, Eni formalized with its Libyan counterpart NOC the revocation of force majeure status on exploration areas A and B (onshore), and C (offshore), where Eni is the operator with a 42.5% stake, along with BP, 42.5%, and the Libyan Investment Authority with 15%. "Force Majeure, declared in 2014, was revoked following the completion by Eni of a Security Risk Assessment to assess the security conditions in the areas where the exploration program will be carried out; this study yielded positive results," Eni said. According to Eni, with an 80% share of national production (1.6 Bscf/d in 2022), Eni is the country's leading gas producer and domestic market supplier. The company has been operating in Libya since 1959 and currently has a large portfolio of assets under exploration, production and development. Production activities are operated through the joint venture company Mellitah Oil and Gas BV (Eni 50%, NOC 50%).

Source: Libya Today August 03, 2023 10:54 UTC