Italian energy giant, Eni, on Thursday, said it has   formalised with its Libyan counterpart NOC the revocation of force majeure status on three exploration assets in Libya.

The assets include A and B (onshore), and C (offshore), where Eni is the operator with a 42.5 percent stake, along with BP, 42.5 percent, and the Libyan Investment Authority with 15 percent.

In a statement made available to Majorwaves, Eni said the force majeure, which was  declared in 2014, was revoked following the completion of a Security Risk Assessment by the company to assess the security conditions in the areas where the exploration programme will be carried out.

The company informed that its study yielded positive results.

“Following the revocation of Force Majeure by the JV, Eni, as operator of the blocks, will be able to resume the contract activities in exploration basins, some of which are located close to Wafa’s gas facilities,” the statement said.

“With an 80 percent share of national production (1.6 Bscf/d in 2022), Eni is the country’s leading gas producer and domestic market supplier. The company has been operating in Libya since 1959 and currently has a large portfolio of assets under exploration, production and development. Production activities are operated through the joint venture company Mellitah Oil and Gas BV (Eni 50%, NOC 50%). Equity production was 165,000 barrels of oil equivalent per day in 2022,” it added