Connect with us
Anglostratits

Business

Strengthening Energy Ties: Libya, Italy Collaborate on Major Oil & Gas Ventures

Published

on

Energy Ties

Taking place in Rome on September 23, the Libya-Italy Roundtable and VIP Networking Evening will discuss Libya’s current upstream project pipeline and Italy’s role in unlocking new assets

ROME, Italy, September 13, 2024/APO Group/ — 

Libya’s economy relies heavily on its upstream oil and gas sector, which holds Africa’s largest proven oil reserves – over 48 billion barrels – and substantial natural gas reserves. To stabilize and increase current and future production levels, the country is rolling out a dynamic project pipeline that presents new opportunities for investment and partnership with industry stakeholders. The Libya-Italy Roundtable and VIP Networking Evening – taking place in Rome on September 23 – will bring together top executives from Libyan and European energy firms for an Oil & Gas Roundtable to discuss the country’s current exploration and development prospects, as well as celebrate the Libyan-Italian connection in the upstream space.

Latest Sector Developments

In partnership with the country’s leading operators, Libya’s National Oil Corporation (NOC) is seeking to enhance production capacity (https://apo-opa.co/3MIAHAh) through the rehabilitation and exploration (https://apo-opa.co/3zhGMR6) of at least 36 wells, carrying out maintenance works at key fields. To drive new exploration activity, Libya is preparing to launch an oil and gas licensing round in early-2025 targeting concessions in the Murzuq, Ghadames and Sirte basins. The NOC has already received interest from more than 30 companies in its marginal assets alone, as well as identified 45 greenfield and brownfield projects that will help meet its production goals.

In parallel, Libya is launching a robust gas monetization drive to diversify crude oil revenues, meet rising gas demand and reduce routine flaring. While often overshadowed by its dominant oil sector, Libya’s natural gas sector is substantial, holding 53 trillion cubic feet of proven reserves and playing a critical role in supplying gas to Europe. In May this year, $1.23 billion (https://apo-opa.co/3zig9eP) was allocated to develop the NC-7 block – operated by a consortium led by Italian multinational energy company Eni – with a view to monetizing 2.7 trillion cubic feet of gas in the Ghadames Basin. Meanwhile, Libya’s Greenstream Pipeline transports gas to Sicily and onto European markets, with plans underway to increase the utilization of pipeline capacity up from 25%. Libya is aiming to further boost energy supplies to Europe via an $8-billion gas production deal signed between Eni (https://apo-opa.co/4e6MaWE) and Libya’s NOC to develop two offshore gas fields – Structures A and E – set to produce 750 million cubic feet of gas per day by 2026.

Italy’s Role in Upstream Sector 

Italy plays a major role in Libya’s oil and gas sector as both a major investor and export market. As one of the largest foreign operators in the country, Eni has a long-standing presence in Libya and is involved in major projects across the oil and gas value chain. Libya’s gas output is largely concentrated in offshore fields including the Bahr Essalam and Bouri fields (https://apo-opa.co/3ZiXhaj), which are operated by Mellitah Oil & Gas – a joint venture between Eni and the NOC – as well as onshore fields in the Sirte Basin. To advance Libya’s gas production and exports, Mellitah Oil & Gas is leading development of the one-billion-dollar, offshore subsea Bouri Gas Utilization Project, which serves to capture associated gas from two offshore platforms at the Bouri field development. The gas will then be transported to the Mellitah Complex – a major hub for gas production, processing and export – and delivered to European markets via the Greenstream pipeline, with production expected to start in 2026. Eni’s continued investment in onshore and offshore fields signals its long-term commitment to Libya’s oil and gas industry, as well as Italy’s strong energy ties with Libya and potential for expanded cooperation going forward.

The Libya-Italy Roundtable and VIP Networking Evening takes place in Rome on September 23, featuring a half-day program that unites Libyan and Italian business leaders and government officials. If your company is interested in participating, please contact sales@energycapitalpower.com

Distributed by APO Group on behalf of Energy Capital & Power.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

Published

on

Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

Continue Reading

Business

South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

Published

on

Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

Continue Reading

Business

Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

Published

on

Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

Continue Reading

Trending