{"id":84863,"date":"2023-08-04T23:02:08","date_gmt":"2023-08-04T22:02:08","guid":{"rendered":"https:\/\/jazairhope.org\/?p=84863"},"modified":"2023-08-04T23:02:08","modified_gmt":"2023-08-04T22:02:08","slug":"bp-sonatrach-and-eni-resume-operations-in-libya","status":"publish","type":"post","link":"https:\/\/jazairhope.org\/en\/bp-sonatrach-and-eni-resume-operations-in-libya\/","title":{"rendered":"BP, Sonatrach and ENI resume operations in Libya"},"content":{"rendered":"<div class=\"article__header\">\n<div class=\"article-header\">\n<h4 class=\"article-header__excerpt\">Three major international oil companies \u2013 BP, ENI and Sonatrach \u2013 have announced a resumption of their operations in Libya after a 10-year absence, the Libyan National Oil Company said on Thursday.<\/h4>\n<\/div>\n<\/div>\n<div class=\"article__body u-format\">\n<p>The NOC said in a press release it \u201creceived official notifications from the Italian company ENI and the British company British Petroleum regarding the lifting of force majeure and the resumption of exploration and contractual obligations in the blocks awarded to them in the Ghadames Basin (A-B) and offshore Block C\u201d.<\/p>\n<p>It said it had also been notified by Algeria\u2019s Sonatrach that \u201cexploration and fulfilment of contractual obligations in blocks 065 and 96\/95 in the Ghadames Basin\u201d had resumed.<\/p>\n<div class=\"read-more\"><\/div>\n<p>Force majeure is a measure invoked in exceptional circumstances, allowing exemption from liability in the event of non-compliance with contractual obligations. The Ghadames Basin is in southwest Libya in an area rich in oil and gas on the border with Algeria and Tunisia.<\/p>\n<h4>Security concerns<\/h4>\n<p>In December, the NOC called on foreign companies with which it had hydrocarbon exploration and production agreements to lift the force majeure they had invoked, arguing that the\u00a0<strong>security situation had improved<\/strong>.<\/p>\n<p>Crude oil is the main revenue source for Libya, which has been torn by more than a decade of stop-start conflict, involving foreign powers and a myriad of militias since a NATO-backed revolt toppled Muammar Gaddafi in 2011.<\/p>\n<div><\/div>\n<div class=\"read-more\">Over the past decade, Libya has been regularly plagued by clashes between rival factions from the east and the west, badly\u00a0<strong>affecting oil and gas operations<\/strong>.<\/div>\n<p>The country sits on\u00a0<strong>Africa\u2019s biggest oil reserves<\/strong>\u00a0but the wedge between the eastern government and a United Nations-recognised administration in Tripoli has hampered Libya\u2019s efforts to sharply ramp up output in response to a surge in European demand for non-Russian oil and gas.<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>Source : <a href=\"https:\/\/www.theafricareport.com\/317982\/bp-sonatrach-and-eni-resume-operations-in-libya\/\">https:\/\/www.theafricareport.com\/317982\/bp-sonatrach-and-eni-resume-operations-in-libya\/<\/a><\/p>\n<div class=\"article__body u-format\">\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Three major international oil companies \u2013 BP, ENI and Sonatrach \u2013 have announced a resumption of their operations in Libya after a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":84864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[12],"tags":[],"class_list":["post-84863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - 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