QatarEnergy Secures Libya Offshore License
Key highlights
- QatarEnergy and Eni secured exploration rights for offshore block O1 in Libya.
- The block is located in the Sirte Basin, covering 29,000 km².
- Water depths in the area reach up to 2,000 meters.
- This is the first Libyan bid round since 2007.
Exploration License Awarded
QatarEnergy, in partnership with Eni, has been awarded an offshore exploration license in Libya. This marks QatarEnergy's first venture into Libya's upstream sector.
Consortium Details
The National Oil Corporation (NOC) announced the results of the Libya Bid Round, granting exploration and production rights for offshore block O1 to the consortium. QatarEnergy holds a 40% interest, while Eni, the operator, holds 60%.
Block O1 Location
Block O1 is situated in the offshore Sirte Basin, covering an area of approximately 29,000 km². The water depths in this region reach up to 2,000 meters.
Significance of the Bid Round
This bid round is the first to be held in Libya since 2007, highlighting a significant development in the country's oil and gas sector.
Source: QatarEnergy