Eni and the National Oil Corporation (NOC) of Libya announced yesterday the start of production made possible by the Sabratha Compression offshore project, developed through the Mellitah Oil & Gas joint venture. The initiative involves the Bahr Essalam field, one of the North African country's main gas assets, located about 100 kilometers off the coast.
The project includes the installation of a new 1.600-ton compression module on the Sabratha platform, capable of sustaining production even with the reservoir's natural pressure drop. The new facility will increase production by approximately 800 million cubic meters of gas per year, in addition to associated condensates.
This is a significant result not only for Libya, which will be able to count on increased volumes for electricity generation and national energy security, but also for Italy. Part of the additional gas could in fact be exported through the GreenStream pipeline, which directly connects the Libyan coast to Sicily.
Argentina: The New Frontier of LNG
Also yesterday the six-legged dog announced a major operation in Argentina, entering the upstream of the Argentina LNG integrated project through the acquisition of 32% of three blocks in the unconventional Vaca Muerta Basin, one of the world's largest shale gas reserves.
The agreement, signed with the Argentine company YPF and with XRG, will allow Eni to participate in the development of the resources needed to fuel a future production capacity of 12 million tons per year of liquefied natural gas (LNG), obtained through two floating units of 6 million tons each.
The operation represents a strategic step because allows the Italian group to control the entire value chain: from gas extraction to its liquefaction and marketing on international markets.
A strategy that looks to the long term
The two operations, although developing in very different geographical contexts, respond to the same industrial logic. On the one hand Eni consolidates its historical role in Libya, where it has been present since 1959 and where it remains the leading international operator in the energy sector. On the other hand, it is expanding its presence in one of the most promising areas for global gas production, strengthening its portfolio of resources destined for the global LNG market.
The objective is twofold: ensuring reliable energy supplies in a period of strong geopolitical volatility and seizing the opportunities offered by continuing to grow demand for natural gas in many areas of the world.
From the southern shore of the Mediterranean to the unconventional fields of Argentina, Eni confirms a strategy based on geographical diversification, on the integration of activities along the supply chain and on strengthening the role of gas as a key source of energy transition and security of supply.
