KEY POINTS
- Libya launches major offshore gas drilling project targeting 160 million cubic feet daily output.
- $450 million investment with Norwegian firm Borr Drilling signals international confidence.
- Project aligns with European energy needs and Libya’s economic recovery goals.
Libya’s energy sector is poised for significant growth as Mellitah Oil and Gas Company, a joint venture between Libya’s National Oil Corporation and Italy’s Eni, revealed plans to drill eight new offshore gas wells.
The project, set to begin this week using Norwegian contractor Borr Drilling’s Vali rig, aims to boost natural gas production by 160 million cubic feet per day upon completion in 15 months.
“This strategic initiative will enhance Libya’s position in the global energy market while supporting domestic energy needs,” stated a Mellitah spokesperson. The drilling operation targets untapped reserves in Libya’s Mediterranean offshore fields, where substantial deposits remain undeveloped due to years of political instability.
Gas project signals renewed confidence in Libya’s energy sector
The $450 million drilling program represents one of Libya’s most significant energy investments since 2020 and comes as European nations seek alternative gas suppliers. Energy analysts suggest the timing aligns perfectly with growing international demand. “Libya’s geographical position makes it an ideal partner for Europe’s energy diversification efforts,” explained energy markets specialist Dr. Amina Khalifa.
Libya Update reveals that the project includes comprehensive safety measures and environmental protections, with Mellitah committing to international operational standards. Company officials emphasized that the new wells would connect to existing infrastructure, including the critical Greenstream pipeline to Italy, which currently transports about 8 billion cubic meters of gas annually.
Libya’s Oil Minister highlighted the broader economic benefits, noting “this project will create hundreds of direct jobs and stimulate related industries.” The government hopes increased gas revenues will help fund infrastructure development and economic diversification programs.
With proven gas reserves exceeding 50 trillion cubic feet, Libya has long sought to capitalize on its energy potential. The Mellitah project follows recent agreements with international partners to modernize Libya’s energy infrastructure and implement more efficient extraction technologies.
