Libya exploration update! Libya’s National Oil Corporation has announced the signing of a memorandum of understanding with Equinor to evaluate the oil and gas potential offshore Libya. Libya's offshore is considered to have significant potential, however, it remains underexplored and underdeveloped. Equinor already has interests in two existing onshore assets in Libya (NC 186 and NC 017). Exploration and development activity in Libya is picking up. In January 2023, Eni moved ahead with the 6 Tcf, US$8bn offshore ‘A&E’ gas project, with production expected to start in 2026 and reach a plateau of 750 MMcf/d. In August 2023 #upstream #downstream #petroleum #oilandgasindustry #offshore #offshoredrilling #drilling #internationalbusiness #eni #noc #equinor #libya #worldwidebusiness #internationalConsulting#consultancy#Contractors #epc#oilfieldservices