popular articles

Eni steps up exploration in Libya’s Ghadames Basin

Eni, the Italian oil company, is launching new exploration activities in Libya's Ghadames Basin, with the aim of exploiting under-exploited oil resources despite the country's political instability.

Please share:

Eni, the Italian oil company, is strengthening its activities in Libya by launching a new exploration campaign in the Ghadames basin.
This region, located in the north-west of the country, is renowned for its significant oil potential, but remains largely under-exploited.
Eni aims to discover and exploit new deposits to increase its hydrocarbon production in Libya.
This initiative comes despite the challenges posed by the country’s continuing political instability. The Ghadames Basin covers an area of around 390,000 km² and is considered one of Libya’s most promising onshore areas in terms of hydrocarbon reserves.
In May 2023, Libya’s state-owned National Oil Corporation (NOC) announced the discovery of a new field in this region.
This discovery strengthened Eni’s interest in intensifying its exploration efforts in the basin.

Eni’s strategic objectives in Libya

Eni is looking to monetize untapped oil resources estimated at over one billion barrels in the Ghadames Basin.
The company is focusing its activities on exploration zones A and B, where it plans to carry out seismic surveys and exploratory drilling.
These efforts are part of Eni’s overall strategy to strengthen its position in North Africa.
Despite the political and security challenges in Libya, Eni is maintaining its presence in the country, where it currently produces around 62 million barrels of oil equivalent per year.
The company considers Libya a key market and continues to invest in the development of its local assets.
Its commitment is also reflected in strengthened partnerships with the NOC to optimize production and explore new opportunities.

Challenges linked to political instability

The political situation in Libya remains complex, with persistent tensions affecting the oil sector.
Internal conflicts are causing disruption to production, which fell by over 50% last month.
This instability represents a risk for foreign oil companies’ investments and operations.
Eni must navigate this uncertain environment while pursuing its strategic objectives.
The company is counting on a gradual improvement in the situation to realize the full potential of its projects.
The $8 billion gas agreement signed with the NOC at the beginning of the year testifies to its determination to make a long-term commitment to Libya, despite the current challenges.

Offshore exploration prospects

In parallel with its onshore activities, Eni plans to launch an offshore drilling campaign in the Sirte basin by the end of 2025.
This initiative aims to diversify its production sources and exploit Libya’s offshore potential.
The Sirte Basin is known for its rich hydrocarbon reserves, making it a strategic target for the company.
The combination of onshore projects in the Ghadames Basin and offshore projects in the Sirte Basin could enable Eni to significantly increase its production in Libya.
This integrated strategy reflects the company’s commitment to developing its activities in the country while contributing to the strengthening of the Libyan energy sector.
Eni’s continued commitment to Libya illustrates the company’s confidence in the country’s energy potential, despite the current challenges.
By developing key projects such as prospecting in the Ghadames basin and offshore exploration, Eni seeks to consolidate its position in North Africa.
The success of these initiatives will, however, depend on the evolution of the political situation and the stability of the Libyan oil sector.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The Nigerian president has replaced the leadership of the Nigerian National Petroleum Company amid declining output and eroding investor confidence.
Sinopec has identified over 140 mn tonnes of proven reserves in the Jiyang Basin, marking the largest certified shale oil discovery in China.
Sinopec has identified over 140 mn tonnes of proven reserves in the Jiyang Basin, marking the largest certified shale oil discovery in China.
Boaz Energy II has completed the sale of its oil properties and trust units to T2S Permian Acquisition II, refocusing its operations while maintaining administrative continuity of the PermRock Royalty Trust.
Boaz Energy II has completed the sale of its oil properties and trust units to T2S Permian Acquisition II, refocusing its operations while maintaining administrative continuity of the PermRock Royalty Trust.
Offshore oil group Awilco Drilling PLC enters ex-dividend period on 1 April, marking the detachment of a USD 2.06 per share payment, amid significant cash returns to shareholders.
Offshore oil group Awilco Drilling PLC enters ex-dividend period on 1 April, marking the detachment of a USD 2.06 per share payment, amid significant cash returns to shareholders.
After several years of negotiations, Uganda officially signs an agreement to establish the Hoima oil refinery, a central project in the country's energy strategy aimed at reducing dependency on fuel imports.
The Nigerian national oil company, NNPC, is finalizing the last steps toward its highly anticipated stock market listing, mobilizing investors and financial institutions for what promises to be a pivotal moment in Africa’s energy market.
The Nigerian national oil company, NNPC, is finalizing the last steps toward its highly anticipated stock market listing, mobilizing investors and financial institutions for what promises to be a pivotal moment in Africa’s energy market.
Repsol’s Chief Executive said the company is exploring options with US authorities to remain active in Venezuela following Washington’s decision to end sanctions waivers.
Repsol’s Chief Executive said the company is exploring options with US authorities to remain active in Venezuela following Washington’s decision to end sanctions waivers.
CNOOC Limited has announced the discovery of the Huizhou 19-6 oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes of oil equivalent.
CNOOC Limited has announced the discovery of the Huizhou 19-6 oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes of oil equivalent.
PetroChina posts record net profit in 2024, driven by rising oil and gas volumes and expanded refining and distribution operations.
EACOP has confirmed the closure of an initial tranche of external financing for its 1,443 km pipeline, as several NGOs urge participating banks to withdraw from the project.
EACOP has confirmed the closure of an initial tranche of external financing for its 1,443 km pipeline, as several NGOs urge participating banks to withdraw from the project.
Chinese oil group CNOOC Limited reported higher net profit for 2024, driven by growing reserves, record production and strict cost discipline.
Chinese oil group CNOOC Limited reported higher net profit for 2024, driven by growing reserves, record production and strict cost discipline.
The US Energy Information Administration reported an unexpected decline in crude oil inventories, reversing analysts' forecasts of an increase, with immediate effects on crude prices.
The US Energy Information Administration reported an unexpected decline in crude oil inventories, reversing analysts' forecasts of an increase, with immediate effects on crude prices.
Cut off from Iranian energy imports by Washington, Iraq accelerates commercial efforts in Africa while resuming oil exports through Turkey to quickly secure new economic and energy markets.
Drydocks World has secured a contract to extend the operational life of the Baobab MV10 offshore platform in Côte d’Ivoire by 15 years through refurbishment and upgrade works.
Drydocks World has secured a contract to extend the operational life of the Baobab MV10 offshore platform in Côte d’Ivoire by 15 years through refurbishment and upgrade works.
Amid trade tensions with the United States, Canadian Prime Minister Mark Carney is reviving pipeline projects toward the Arctic to directly access European and Asian markets, diversifying Canada's oil exports.
Amid trade tensions with the United States, Canadian Prime Minister Mark Carney is reviving pipeline projects toward the Arctic to directly access European and Asian markets, diversifying Canada's oil exports.
According to Offshore Energies UK, Britain's oil and gas potential in the North Sea is limited by a tax regime that hinders investments needed to boost national production, increasing dependency on imports.
According to Offshore Energies UK, Britain's oil and gas potential in the North Sea is limited by a tax regime that hinders investments needed to boost national production, increasing dependency on imports.
US authorities have extended Chevron’s temporary licence to operate in Venezuela until 27 May, despite Donald Trump’s warnings of tariffs on imports from countries trading with Caracas.
Senator Yannick Jadot appears in court in Paris for defamation after accusing TotalEnergies of being “an accomplice to war crimes” due to its presence in Russia in 2022.
Senator Yannick Jadot appears in court in Paris for defamation after accusing TotalEnergies of being “an accomplice to war crimes” due to its presence in Russia in 2022.
Shell Brasil approves the offshore Gato do Mato project development, targeting production of 120,000 barrels per day by 2029, further consolidating its position as Brazil’s leading foreign oil producer.
Shell Brasil approves the offshore Gato do Mato project development, targeting production of 120,000 barrels per day by 2029, further consolidating its position as Brazil’s leading foreign oil producer.
The Equatoguinean government has announced an immediate increase in fuel prices, citing outdated tariffs and budget constraints driven by a prolonged decline in oil exports.
The Equatoguinean government has announced an immediate increase in fuel prices, citing outdated tariffs and budget constraints driven by a prolonged decline in oil exports.
A North Dakota jury ordered Greenpeace to pay more than $665 million to Energy Transfer, triggering international reactions denouncing an attack on freedom of expression.
Ecuador has detected a new oil spill in a pipeline located in the Amazonian province of Napo, near its main hydroelectric plant, raising concerns over the country’s energy supply.
Ecuador has detected a new oil spill in a pipeline located in the Amazonian province of Napo, near its main hydroelectric plant, raising concerns over the country’s energy supply.
Iraq and the United Arab Emirates have submitted compensation plans to OPEC+ to offset their production surplus in February, amid falling crude prices and the gradual reduction of cuts planned for April.
Iraq and the United Arab Emirates have submitted compensation plans to OPEC+ to offset their production surplus in February, amid falling crude prices and the gradual reduction of cuts planned for April.
US commercial oil stocks increased by 1.7 million barrels last week, a figure higher than forecasts, according to the US Energy Information Administration (EIA).
US commercial oil stocks increased by 1.7 million barrels last week, a figure higher than forecasts, according to the US Energy Information Administration (EIA).

Advertising