January 28 (United Press International) — Italian Prime Minister Giorgia Meloni visited Tripoli on Saturday as Italian oil major Eni signed an $8 billion deal with Libya to increase gas production and supplies to the African country.
“Active mission of the Italian government in Tripoli today. Significant agreements on cooperation, energy and the fight against informality migrantsays Meloni in a statement on twitter.
“We also expressed our full readiness to facilitate the path to legitimate elections and stability in Libya.”
Meloni met with Libya’s prime minister on Saturday Abdul Hamid Dbeibeh along with Libyan Foreign Minister Najla Elmangoush and Chairman of the Libyan Presidential Council Mohamed Yunus al-Menfi.
Eni announces meeting in the press release The company’s chief executive, Claudio Descalzi, signed an agreement with Libya’s National Oil Corporation chief executive, Farhat Bengdara, in the presence of the leaders of the two countries.
The deal focuses on the development of two offshore gas fields in Libya, which are expected to start producing gas in 2026.
The company expects the Structures A&E project to produce approximately 750 million standard cubic feet of natural gas per day.
“Production will be secured through two main platforms connected to the existing processing facilities at the Mellitah Complex,” Eni said in a statement.
“The project also includes the construction of a carbon capture and storage facility in Mellitah, which will significantly reduce the overall carbon footprint, in line with Eni’s decarbonization strategy.”
Eni added that the $8 billion investment would also mark a “significant contribution to the Libyan economy”.
“The agreement will enable important investments in Libya’s energy sector, contributing to local development and job creation, while strengthening Eni’s role as the leading operator in the country,” Descalzi said in a statement.
el mangus Praise Meloni Thanked her for Saturday’s “historic and strategic visit”.
“We prioritize ways to strengthen our friendship and cooperation in various fields,” she said. “It was a pleasure to host them and look forward to welcoming them again in Libya soon.”
Bundala Noted ANSA The deal is the most significant investment in Libya’s energy sector in 25 years, adding: “It is a clear message to the international business community that the Libyan state has overcome its phase of political risk.”