Libya's stepping stone to normality
Eni leads a return to oil exploration in Libya for the first time since the 2011 Arab Spring revolution
Eni's deal was as eye-catching as it was surprising. On 8 October, the Italian major and BP announced exploration would begin next year on huge and potentially mouth-watering blocks of Libyan real estate. Eni has taken half of BP's 85pc stake in three exploration zones. Two of the zones—in which 15pc stakes are held by the Libyan Investment Authority, the country's sovereign wealth fund—are onshore, totalling 54,000 sq km in the south-western Ghadames Basin; the third consists of four offshore blocks stretching across the Gulf of Sirte. BP has already completed 3D seismic surveys there, reportedly indicating big oil and gas reserves. Over the past two years, in the teeth of civil war and an
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
