Italian oil and gas company Eni has signed an agreement with Libyan National Oil Company to develop the Structures A&E project in Libya. The project includes the development of two gas fields, Structure A and Structure E, located in Block D, offshore Libya.

The project is expected to require an investment of US$8 billion, have a significant impact on the industry and related supply chains, and contribute to the Libyan economy. Through the Structures A&E project, Eni intends to increase natural gas production for the domestic Libyan market and for export to Europe.

Eni CEO Claudio Descalzi said that the agreement will enable important investments in Libya's energy sector, contributing to local development and job creation, while strengthening Eni's role as the leading operator in the country. Structures A and E of the project are expected to begin combined production in 2026 to reach a plateau of 750 million standard gas cubic feet per day.

Gas production will take place through two main platforms, linked to existing processing facilities at the Mellitah Complex. The project also includes the construction of a carbon capture and storage facility at Mellitah to reduce the overall carbon footprint. In another development, Eni and TotalEnergies completed the transfer of a 30% stake in blocks 4 and 9, off the coast of Lebanon, to QatarEnergy.

With the transfer process complete, Eni will now own 35 percent, Qatar Energy 30 percent and operator TotalEnergies the remaining 35 percent. Eni said that the operation will strengthen its strategic cooperation with Qatar Energy and confirmed its interest in the exploration basin of the Eastern Mediterranean.Editor/XingWentao