Eni, TotalEnergies Announce New Exploration Projects in Libya – Africa.com
Libya’s National Oil Company (NOC) and international energy companies TotalEnergies, Eni, OMV, Repsol and Nabors outlined key exploration milestones and strategies to advance Libyan oil and gas production at the 2025 Libya Energy and Economic Summit on January 18.
Key developments to focus on include TotalEnergies’ recent onshore exploration projects and promising exploration opportunities in the Sirte and Murzuq basins.
“Libya has 40% of Africa’s reserves but they are largely untapped,” said Julien Pouget, senior vice president for Middle East and North Africa at TotalEnergies. Pouget shared TotalEnergies’ plans for 2025, which include completing onshore exploration projects and new exploration in the Waha and Sharara fields. “We expect results next week,” he added.
Eni’s Upstream Director Luca Vignati expressed optimism about Libya’s potential and outlined the company’s ongoing investment plans in the country. “We are launching three exploration areas – shallow water, deep water and ultra-deep water. No other country offers such an opportunity,” Vignati said. He also highlighted the company’s investments in natural gas projects, including the more than $10 billion Greenstream natural gas pipeline and the carbon dioxide capture and storage plant in Mellitah.
Repsol has reiterated its commitment to advancing exploration in Libya, with a focus on overcoming industry challenges and achieving important production milestones.
“Libya has made significant efforts over the past decade to combat the decline of its natural fields and encourage exploration,” said Francisco Gea, Repsol’s executive managing director of exploration and production. “Our production has reached 340,000 barrels per day. The goal of 2 million is achievable. As an international company, we have the responsibility to bring production capacity and technology.”
“Innovation is key to maximizing production and accelerating exploration. By deploying cutting-edge solutions, Nabors can increase efficiency, reduce costs and ensure safer operations,” added Travis Purvis, Nabors senior vice president of global drilling operations.
Bashir Galea, technical advisor to the chairman of the National Oil Corporation, highlighted the country’s huge oil and gas potential. “We have 48 billion barrels of discovered but untapped oil, with a total potential estimated at 90 billion barrels, especially offshore oil,” he said. He also pointed to Libya’s vast natural gas reserves, noting: “Libya also has 1.22 million barrels of oil. billion cubic feet of natural gas untapped, we need more investors and new technologies, especially in brownfield revitalization.”
“Our strategy covers the entire value chain. Strengthening infrastructure is critical to maximizing production and efficiency,” said Hisham Najah, general manager of the NOC’s investment and owners’ committee department.
NJ Ayuk, executive chairman of the African Energy Chamber and moderator of the conference, stressed that Libya is a major destination for foreign investment: “Libya is on the cusp of a new energy era. Now is the time for bold investments and strategic partnerships.”
Distributed by APO Group on behalf of Energy Capital&Power.
