Libya: Eni repaid with gas for financing project

Libyan oil executives presented three major upstream project proposals to IRN’s New Libya Oil & Gas Forum in London in mid-October. These were Mellitah Oil & Gas (MOG)’s offshore Bahr Essalam development, Nafusa Oil Operations’ onshore Ghadames Basin development, and Arabian Gulf Oil Company (Agoco)’s plans for developing existing producing and non-producing fields. The country’s disastrous budget and security situation means that, in theory, none of these proposals should have any chance of advancing. National Oil Corporation (NOC) chairman Mustafa Sanalla confirmed that all exploration programmes had been cancelled for 2015 because there is no budget for them.