Libya plans to launch its first international tender since 2005, targeting exploration in the Sirte, Murzuq and Ghadames basins. As Libya aims to ramp up oil production to two million barrels per day within three years, including a 100,000 bpd increase in 2024, here are five upcoming exploration campaigns to monitor. Force majeure, declared in 2014, was revoked after Eni conducted a Security Risk Assessment, confirming positive security conditions for exploration. RepsolRepsol, a Spanish oil exploration and production company, announced the resumption of its exploratory drilling activity in the Murzuq Basin in April 2024. Following the success of the 2024 edition, the Libya Energy & Economic Summit is set to return for its third edition in 2025.

Source: Libya Today February 29, 2024 13:35 UTC