Eni CEO says new agreement with Libya’s NOC would increase oil production efficiency

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Eni CEO says new agreement with Libya’s NOC would increase oil production efficiency

October 13, 2018 - 14:19
Written by: SafaAlharathy

The CEO of the Italian energy company Eni Claudio Descalzi said that the expansion of production plans in Libya in 2019 is important for both sides in terms of diversification of energy sources.

Descalzi explained in a press statement that these plans would turn the situation round in Libya after 8 years of freezing of investments, adding that this step would contribute to creating jobs and greater development in the country.

Discalzi pointed out that the agreement on exploration and sharing of production, signed between the National Oil Corporation (NOC), ENI, and BP, involves about fifty four thousand square kilometres in the sea and on land.