E&P

Sabratha Compression Project comprises 1,600-ton compression module.

Eni, in partnership with the Libyan National Oil Corporation (NOC) through the Mellitah Oil & Gas joint venture, has start-up hydrocarbon production from the Sabratha Compression Project

This is a strategic offshore development for Eni to leverage the Bahr Essalam offshore field for boosted and sustained gas generation. 

The Sabratha Compression Project comprises an installation of a new 1,600-ton compression module on the Sabratha platform, equipped with new compression trains, providing an overall compression capacity of about 440 MMscfd.

The new module can produce under low-pressure conditions, enhancing gas recovery from the gradually declining Bahr Essalam field. This process secures the generation of boosted gas volumes at about 800 million cu/m per year and associated condensate. This additional production will play a critical role in sustaining national power generation, reinforcing Libya’s energy security, and supporting export to Italy via the Greenstream pipeline.

With a smoothy delivery of the challenging and comlex Sabratha Compression Project, Eni and NOC is able to secure a resilient gas infrastructure for Libya, adding to the stability and growth of the country’s energy sector.

Two additional strategic projects are presently in execution in the country: Bouri Gas Utilization Project, whose tie-in and commissioning activities are currently underway after the recent installation of the Bouri Gas Recovery Module, and Structures A&E, whose execution is underway to develop two offshore gas fields.

Eni has been present in Libya since 1959 and is the country’s leading international operator, with an equity production of approximately 162,000 barrels of oil equivalent per day in 2025 and three development projects currently in execution for a total investment of about 10 billion dollars.

The well intersected a gross reservoir interval of 46 metres.

The PEL 85 Joint Venture has recently completed drilling operations on Block 2914, offshore Orange Basin, Namibia

The Capricornus-1A appraisal well was drilled in the eastern portion of the Capricornus fairway, which was established by the discovery at the Capricornus-1X well. The Saipem 12000 drillship was deployed in a water depth of 1,285 metres and reached total depth of 4,818 metres MD. 

The well intersected a gross reservoir interval of 46 metres. A representative core of the main reservoir section was acquired, and a full suite of wireline logging and formation evaluation data was collected.

Preliminary analysis of downhole pressure data indicates the presence of an oil-bearing, sandstone reservoir in pressure communication with the reservoir fairway discovered by the Capricornus-1X well. The results provide further evidence of reservoir continuity across the Capricornus accumulation and represent an important data point in the ongoing appraisal of the discovery.

The core, pressure and wireline datasets acquired from Capricornus-1A will now be integrated with data gathered from previous wells across PEL 85 to support the Joint Venture’s ongoing appraisal and exploration activities.

Well operator Rhino Resources Namibia's Chief Executive Officer, Travis Smithard said, “The Capricornus-1A well has delivered important information that advances our understanding of the morphology of the Capricornus reservoir system. Confirmation of pressure communication with Capricornus-1X provides evidence of reservoir continuity across the accumulation and increases our drilling confidence as we continue to advance the appraisal of the Capricornus discovery.

“The well has also provided critical information on deeper geological intervals that were not encountered at Capricornus-1X, improving our understanding of how subsurface structures are defining the play fairways across the licence area.

“Together with the extensive datasets gathered from our previous discoveries, these results provide further insights for our part of the Orange Basin and will help inform the next phase of appraisal drilling across the Capricornus accumulation and additional exploration targets across PEL 85.”

MOL Group signs a production sharing agreement with partners.

MOL Group has signed a production sharing agreement with its partners, Repsol and Türkiye Petrolleri A. O. (TPAO) for an offshore exploration area in the Mediterranean Sea, after being granted an exploration licence by LIbya's NOC

The project will contribute to the revitalization of Libya’s oil and gas industry and marks a strategic milestone for Central Eastern Europe’s energy security, according to MOL.

The signing of the production sharing agreement represents a significant step in advancing exploration activities in Libya. MOL Group entered the country earlier this year through a successful bid with its JV partners for an offshore exploration licence in Libya’s first bidding round for 18 years, which attracted more than 40 bids, signalling growing international interest in Libya’s largely untapped hydrocarbon potential. Five blocks were awarded, with MOL (20%) together with Repsol (40% as operator) and TPAO (40%), being awarded the O7 offshore block.

The O7 block covers more than 10,300 km² in water depths exceeding 1,500 meters, located approximately 140 kilometres northwest of Benghazi. Its deepwater setting aligns with the consortium’s extensive offshore experience.

Activities in Block O7 will include the acquisition of 1,500 km 2D and 2,300 km² 3D seismic data and the drilling of one exploration well.

“We are excited that our joint project with Repsol and TPAO has entered a new phase with the signing of a production sharing agreement. This also means a new milestone in the revitalisation of Libya’s oil and gas industry and we are honoured to be part of it. Libya holds strategic importance for Europe and offers an exceptional offshore exploration opportunity in North Africa. We are committed to contributing our expertise to Libya’s economy, while also strengthening the energy security of Central Eastern Europe through a new source.“ said Zsombor Marton, executive vice president of MOL Group Exploration and Production.

The announcement follows the signing of a new strategic partnership between MOL Group and Libya’s National Oil Corporation (NOC) in January 2026 which involves exchanging expertise, deepening technological cooperation, and identifying new business opportunities that strengthen both organisations' international presence and future growth. Areas of potential co-operation included hydrocarbon exploration and production, technological and field development innovations, oilfield services opportunities in Libya, crude supply and trading activities.

MOL is looking to expand its international portfolio to maintain its strategy target of at least 90,000 barrels of oil equivalent/day production level over the next five years.

Libya’s oil production currently stands at around 1.4mn bpd. NOC aims to produce 1.6mn bpd by the end of 2026, rising to 2mn bpd in the medium term, and sees the participation of international companies as crucial to achieving its growth plans. Libya’s NOC has also signed production sharing agreements recently with Spain’s Repsol, in partnership with the Turkish Petroleum Corporation (TPAO); and Eni, in partnership with QatarEnergy.

The Company is drilling additional wells in 2026.

With a drilling programme ongoing offshore Gabon, VAALCO Energy has reported impressive initial well results on the Ebouri-5H well and has mobilised a rig to the SEENT platform 

Successfully drilled, completed and placed on production the Ebouri-5H development well at the top of the structure with a lateral of 300 meters of net pay in high-quality Gamba sands. Tyhe company read excellent initial flow rate, which shot past 8,000 gross barrels of oil per day, 4,700 bopd net to Vaalco, with very low water cut.

The company aimed directional drilling of the slant well, lying adjacent to GMF-1X discovery well so that gas and condensate resources in the Dentale D15 reservoir from the crest of the North Tchibala structure can be accessed for operational use.

Natural gas obtained in this manner can be leveraged directly, significantly reducing the costs of higher priced diesel that is currently transported to the field by vessel. 

In line with its 2026 onshore drilling schedule in Egypt, the company has completed drilling of the first well in the region. The HE-9 development well that has encountered 26 meters of net pay in the Asl B reservoir is now placed on production. The well has  achieved excellent initial flow rate of 529 gross BOPD, above Vaalco’s predrill expectations.

George Maxwell, Vaalco’s Chief Executive Officer, commented, “We are very pleased with the continued positive results from our Gabon drilling campaign. The Ebouri-5H development well encountered 300 meters of net pay in high-quality Gamba sands in a crestal position within the Ebouri field. The well was brought online with initial rates exceeding 8,000 gross BOPD, or 4,700 net BOPD. We have mobilized the rig to the SEENT platform where we plan to drill two development wells. Our goal is to continue to successfully add production and reserves with the remainder of our Gabon drilling campaign. In Egypt, given the success of the 2025 drilling campaign, including captured efficiencies and accelerated technical subsurface evaluation, the Company is drilling additional wells in 2026. We completed and placed on production the HE-9 development well in early June, the first well in our 2026 drilling program, and are very pleased with the strong IP rates. With the Baobab field successfully restarted and the continued successes in the Gabon and Egypt drilling campaigns, we have many positive achievements year to date, and we believe that the remainder of 2026 will be profitable. We remain focused on execution and driving meaningful growth through our organic capital programs that we believe will translate into value for our shareholders in 2026 and beyond.”