Italian energy giant Eni has reaffirmed its commitment to Libya as a strategic location for upstream activities.
Despite the ongoing political instability and disruptions to oil production, Eni’s head of North Africa and Levant, Martina Opizzi, announced plans to initiate exploration in the Ghadames basin next year.
Opizzi emphasized that Libya remains a vital region for oil and gas production, stating, “We estimate that there are still significant resources to be discovered.”
Eni also intends to expand its exploration efforts offshore in the near future.
The recent political standoff between rival factions in Libya has significantly impacted the country’s oil industry.
Major Libyan ports were temporarily closed, and overall production was curtailed.
While production has begun to recover in recent weeks, the underlying dispute over the central bank remains unresolved.
Eni’s decision to proceed with exploration plans in Libya reflects its long-term perspective and confidence in the country’s potential.
However, the ongoing political instability poses significant challenges and uncertainties for the energy sector.