Total of France has announced its plans to commence offshore exploratory drilling in Libya starting next month. The drilling is for gas reserves and this is a clear indication that the energy industry of the country is returning to normal after the 2011 upheavals.
Bernard Avignon, managing director of Total Exploration and Production in Libya, spoke before the Libya Oil and Gas Summit held in Tripoli, where he was awaiting the results of testing for a drilling rig of the company being conducted in Croatia.
According to Avignon, "We hope it will start making its way towards the exploration area in Libya next week to start drilling operations at some point in mid-May," he told reporters on the sidelines, adding work would focus on two wells in the area. We hope to discover more gas, we have already discovered gas in that area."
Total operates in Libya through the Mabrouk joint venture with Libyan state backed National Oil Corporation. The venture produces 41,000 barrels per day. With the new wells in place, another US$130 million would be needed to make them operational this year.
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