Libya: energy giant Eni invests eight billion dollars to operate gas sites

General view of the gas terminal in Mellitah, western Libya, January 6, 2015 (photo illustration).

AFP PHOTO / MAHMUD TURKIA

Text by: RFI Follow

1 min

Eight billion dollars is what the Italian giant Eni will invest in Libyan gas.

gas sites

. 

Advertising

Read more

Up to 850 million cubic meters of gas per day is what the two

gas fields concerned by the agreement between Libya and the Italian energy giant Eni could produce.

It is in any case that highlights Farhat Bengdara, the boss of the Libyan National Oil Company, who welcomes the project.

The agreement with the Italian company will be formalized this Saturday, January 28, during an official ceremony.

In total, Eni will inject eight billion dollars for the development of these two gas fields off the coast of Libya.

The company has been, as we know, a strategic partner of the country since 1959.

New step

But this agreement is also a new step in the reopening of Libyan hydrocarbon reserves.

In December 2022, the National Petroleum Company invited foreign companies to resume operations on its territory, ensuring that the security situation there had become sufficiently stable again.

Today, Libya needs these foreign investments to increase its production.

The country wants to reach two million barrels of oil per day.

This is almost double what it currently produces.

►Also read

Newsletter

Receive all the international news directly in your mailbox

I subscribe

Follow all the international news by downloading the RFI application

• Libya

• Italy

• Economy

• Oil

• Energies

• Trade and Exchanges