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Libya’s NOC, Eni To Sign Gas Production Agreement

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Libya's state-owned National Oil Corp and Eni will sign a production agreement this week to produce around 850 MMcf/d from two offshore gas fields in the Mediterranean Sea, NOC chairman Farhat Bengdara said.

  • The deal will be signed on 28 Jan.
  • Production from both fields was supposed to begin 2017-18.
  • "We expect investments to be more than $8 billion" due to cost inflation, Bengdara said.
  • Gas from the fields in Libya is brought to Italy through the Green Stream pipeline that has a capacity of 8bcm per year.
  • Under a government target to eliminate Russian gas by 2025, Italy is working on several short- and mid-term measures to boost LNG and pipeline flows from other sources.
  • Currently, Libya is trying to maintain gas producing at 1.5 Bcf/d, with about 850-900 MMcf/d used locally for electricity production, 250 MMcf/d exported and the remainder consumed mainly in industry.
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Libya's state-owned National Oil Corp and Eni will sign a production agreement this week to produce around 850 MMcf/d from two offshore gas fields in the Mediterranean Sea, NOC chairman Farhat Bengdara said.

  • The deal will be signed on 28 Jan.
  • Production from both fields was supposed to begin 2017-18.
  • "We expect investments to be more than $8 billion" due to cost inflation, Bengdara said.
  • Gas from the fields in Libya is brought to Italy through the Green Stream pipeline that has a capacity of 8bcm per year.
  • Under a government target to eliminate Russian gas by 2025, Italy is working on several short- and mid-term measures to boost LNG and pipeline flows from other sources.
  • Currently, Libya is trying to maintain gas producing at 1.5 Bcf/d, with about 850-900 MMcf/d used locally for electricity production, 250 MMcf/d exported and the remainder consumed mainly in industry.