Eni to Support the Development of Libya’s Oil and Gas Prospects

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Eni, announced at The Libya Energy & Economic Summit 2021 in Tripoli on 22 November, its commitment to developing Libya’s remaining oil and gas prospects while adhering to a just energy transition

Tripoli, Libya: The Libya Energy & Economic Summit 2021, representing the first large-scale international event to take place in Libya in over a decade, featured a presentation by Eni’s Natural Resources General Director and COO, Alessandro Puliti, who highlighted the company’s efforts in exploring new frontier areas within Libya’s energy sector – particularly in its offshore regions – and its devotion to contributing to the alleviation of energy poverty through its commitment to development and exploration activities.

Eni has invested over $10 billion to date into the development and exploration of Libya’s abundant natural resources and has historically maintained its commitment to the prosperity of Libya’s people.

“In the past years, we have allocated increasing shares of gas production, from export to the domestic market, to fulfill domestic market demand,” Puliti stated, adding, “This clearly demonstrates the utmost attention we have paid to the economic and industrial development of Libya.”

Noting the important role that renewables will play in Libya’s future energy supply, Puliti highlighted the country’s resilience and efforts in transitioning towards cleaner forms of energy, with a primary focus placed on natural gas and solar energy. “Natural gas is the perfect bridge between fossil fuels and a net zero world where renewables account for most of the energy supply,” stated Puliti.

“We need to increase the velocity of the development of oil and gas fields,” suggested Puliti, noting that the world can no longer rely on fossil fuels indefinitely. “The strategy for the future can be summarized in just one sentence: speed up investments in oil and gas. Libya is a very significant remaining oil and gas prospect and Eni is ready to support this development.”