Tag Archives | Exploration

Russia's Tatneft "to Resume Oil Exploration in Libya"

By John Lee. Russia's Tatneft reportedly intends to resume production and exploration in Libya. Tatarstan's President Rustam Minnikhanov is said to have told TASS news agency that the company is "studying the resumption of work in 4 exploration blocks in Libya". The National Oil Corporation (NOC) announced in December 2019 that Tatneft had already resumed […]

Turkey-Libya Pact Enables New Oil Exploration, Projects

By John Lee. Turkey has reportedly determined seven licensing areas for oil exploration in the Eastern Mediterranean under its recent pact with Libya. According to the Turkish newspaper Daily Sabah, Turkey's Energy and Natural Resources Minister, Fatih Dönmez (pictured), made the announcement on Monday during a television interview. In November, Ankara and Libya's United Nations-recognized […]

Eni, BP, NOC sign Deal to Resume Libyan Exploration

National Oil Corporation (NOC) Chairman, Mustafa Sanalla, BP Group Chief Executive, Bob Dudley, and Eni CEO, Claudio Descalzi, signed a Letter of Intent (LOI) in London today which will launch the process for Eni to acquire a 42.5% stake in BP’s Exploration and Production Sharing Agreement (EPSA) in Libya, with an aim to boost in-country […]

BP, ENI discuss Resumption of Exploration in Libya

By John Lee. The Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, discussed the importance of the resumption of exploration activities in Libya with BP and ENI on 25th April. The meeting was attended by Andrew McAuslan, BP Head of Business Development Upstream; Roy Lavery, BP Managing Counsel Exploration and Access Legal; Ciro Pagano, […]

OMV Restarts Production; Increases Stakes in Libyan Fields

Austria's OMV has announced that, as a result of the improvement in the political and security situation in Libya, it has successfully started up production at both the Sirte and Sharara oil fields. The Sharara fields are located in the Murzuq basin. In Q4/2016 OMV’s production from Libya amounted to approximately 3,000 bbl/d. OMV also […]

BP Reconsiders Libya Drilling Plans

Oil giant BP has said it is reconsidering plans to drill for oil in Libya, due to security concerns following the attack on a gas plant in Algeria in which a number of BP employees were killed. A BP spokesperson confirmed to Reuters: "We had expected to restart drilling at the end of the second […]

Sonde Resources Reaches Agreement on Gulf of Gabes

Canadian energy group Sonde Resources has reached agreement with the Joint Oil authority on terms for Sonde to enter the second phase of the exploration period on the Joint Oil block in the Gulf of Gabes offshore Libya and Tunisia. According to a report from Oil & Gas Journal, the agreement allows Sonde to defer […]

Libya May Seek New Oil Bids

Libya’s new Oil and Gas Minister, Dr. Abdulbari Alarusi [Al Arusi], has said the country could proceed with a new round of oil exploration and production agreements, but the priority for now is to maintain pre-war output levels. Speaking to Reuters, he said: "Our priority is to maintain the production at 1.5 million barrels per […]