The Chief Executive Officer of the Italian oil giant ENI traveled to Tripoli for the first time since July 2014 to meet with the new head of Libya’s UN-backed government, Prime Minister, Fayez Serraj. The visit of Claudio Descalzi underlines ENI’s commitment to continuing operations in the country, and shows its support the National Oil Corporation’s efforts to increase production, Associated Press reported.
ENI was the first international oil company to resume operations in Libya in 2011 after months of civil war and currently produces 300,000b/d, Dailymail wrote.
Relevantly, French company Technip has recently inked a deal worth $500m with a consortium that includes ENI and Libya’s National Oil Company (NOC) to refurbish the offshore oil platform for the Bahr Essalam oil field about 100km off Tripoli.
The Libyan oil production witnessed a slump due to a conflict resulted from the east and west competing governments who sought control of the crude exports. The dispute was later settled in May after a unified oil structure was formed. Libya is currently aiming to restore its status as a top oil producer by resuming shipment from Hariga port, and capturing a ISIS-controlled town near the country’s biggest oil port of Es Sider.