ENI now contributing half of Libya’s overall oil and gas production

Italian oil giant ENI contributes around half of the country’s hydrocarbon production at present, and generates essential power to shore up the national grid, according to Prime Minister Ali Zeidan.

Speaking to ENI’s CEO Paolo Scaroni in Rome today, Zeidan emphasised the importance of the company, both historically and at present. The Italian firm has been in Libya since 1959 and is the largest international hydrocarbon company operating in the country. It produces around 230,000 barrels of oil per day (b/d), according to the latest company figures.

In particular, Zeidan cited the contribution ENI currently makes to the country’s energy sector, which struggles to provide enough electricity for local use.

Scaroni and Zeidan also discussed safety and security at the country’s oil-fields and oil export terminals. It was essential that these were safeguarded to avoid interruptions in production, which had a negative impact on both the country and technical operations at Libya’s oil facilities, Scaroni said.

Libya was a strategic country for ENI, he said, adding that gas supplies from the country were particularly important to Italy.

ENI hoped that Libya would continue on its path towards stability and security, Scaroni added.

via ENI now contributing half of Libya’s overall oil and gas production | Libya Herald