Eni and NOC Sign New Deal

Italian oil and gas giant Eni and Libya's National Oil Corporation (NOC) have signed a wide-ranging agreement to boost Eni's oil and gas production in Libya.

The deal incorporates the continued exploration of the NC41 offshore area and the strengthening of the hub of Mellitah by expanding gas export capacity from eight to 16 billion cubic meters a year, says Eni.

Eni has recently completed two major hydrocarbon developments in the country - El Feel (Elephant) and the Western Libya Gas Project – and is planning new initiatives to exploit the significant oil and gas potential in the country.

A new LNG (liquefied natural gas) plant producing five billion cubic meters for worldwide marketing, with additional gas for industrial use in Libya, will also be built.

The overall investment associated with the agreed work programme is in the region of US$28bn over ten years.

By staff writer