Repsol Murzuq held its first technical meeting for 2024 with the Exploration Department of the National Oil Corporation (NOC) of Libya to discuss its ongoing exploration activities in the Murzuq Basin. The meeting reviewed current operations in two concession areas and explored proposed activities for 2025.
Discussions included preparations for drilling the exploratory well A1-02/30 (Mouamal Al-Nisr), with operations expected to commence by the end of November 2024. Additionally, plans for drilling six more exploratory wells in 2025 were presented.
Repsol confirmed that logistical preparations are progressing smoothly under excellent security conditions, with no reported incidents in the area.
The meeting was attended by the Director of Exploration at the NOC, the Director of Exploration at Repsol, and several technical experts from both organizations. Representatives from OMV, Total, and Equinor—partners in exploration projects—also participated remotely via video conference.
This collaboration marks a critical step in advancing Libya’s energy sector, fostering exploration activities to enhance production capabilities and ensure a stable operational environment.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
