The National Libyan Petroleum Company should sign the agreement with the Italian hydrocarbon company on Saturday January 28.
MO12345lemonde with AFP
The Italian giant Eni will invest $ 8 billion in the development of offshore gas sites off Libya, after an agreement with the National Libyan Petroleum Company (NOC), announced the boss on Wednesday 25 January of the Noc Farhat Bengdara.
“We have reached an agreement with the company ENI for the development of the petroleum and gas sector, aimed at two offshore fields likely to produce 850 million m 3 of gas” per day, made Know Mr. Bengdara during a television interview with the local Al-Masar channel. Solicited by AFP, the ENI did not wish to make comments.
This agreement “Between the NOC and ENI will be signed on Saturday January 28, during an official ceremony, for the investment of $ 8 billion for the development of these two fields,” he said. A visit to the Italian Prime Minister Giorgia Meloni is scheduled for the coming days in Tripoli, according to Libyan and Italian media.
a torn country
Almost eleven years after the fall of Muammar Gaddafi, Libya, which has the most abundant oil reserves in Africa, remains torn between rival factions of the East and the west of the country, against the backdrop of foreign interference. Since March, two governments have competed for power, one installed in Tripoli (west) and recognized by the UN, the other supported by the Parliament and the camp of Marshal Khalifa Haftar, the strong man of the East.
In the last decade, Libya has been regularly plagued by violent clashes between rival factions of the East and West, which has affected the exploitation of deposits, the transport of hydrocarbons and the oil terminals , taken in pincers between the two camps.
In December, the NOC called foreign companies active in the hydrocarbon sector to resume their exploration and production operations. The NOC then explained that it had carried out an “evaluation” of the security situation and noted a “spectacular improvement” on certain sites where it was difficult to operate before.
This vital sector for the Libyan economy needs foreign investments to reach the expected production levels, Libya wishing to increase its oil production to 2 million barrels per day, an almost delays compared to the current level of 1.2 million barrels per day.