On Monday 8th October, National Oil Corporation (NOC) chairman, Eng. Mustafa Sanalla, met with Mr Claudio Descalzi, CEO of Eni, in London to discuss ways to enhance existing operational relations between the two companies. NOC and Eni have already extended operational plans for 2019, following the signing this week of a joint letter of intent with BP for the resumption of exploration activities at three contract areas; part of BP’s existing 2007 exploration and production sharing agreement (EPSA).The parties agreed to work towards Eni acquiring a 42.5% interest of the EPSA’s Second Party share, which represents 22.3% of the total BP-operated EPSA in Libya. On completion, Eni would also become operator of the EPSA. NOC’s share is 77.7%. BP currently holds 85% of the EPSA Second Party share, with the Libyan Investment Authority holding the remaining 15%.
Mr Descalzi offered his condolences during the meeting regarding the terrorist attack against NOC Headquarters last month, expressing Eni’s thoughts and best wishes for those injured and the families of the fallen.
The meeting went on to focus on the successful management of future contracting projects, capacity building, and on-site engineer and technician training.
Eni is currently reviewing a tender document for the development of offshore areas A & E in the submerged fields of the Sebratha basin in northern Libya; expected to produce 760 million cubic feet of gas and 40,000 barrels of condensate.
The meeting was also attended by Mr Antonio Vella, Eni chief upstream officer, and departmental specialists.