By Giulia Petroni

Italian oil-and-gas major Eni has revoked a force majeure status declared in 2014 on three exploration assets in Libya and said it will resume activities in the area.

The move follows an assessment of security conditions in the areas where the exploration program will be carried out, the company said on Thursday.

Eni operates the onshore and offshore exploration areas with a 42.5% stake, along with BP and the Libyan Investment Authority. Production activities are operated through a joint venture between Eni and Libya's National Oil Corporation called Mellitah Oil and Gas.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

August 03, 2023 06:57 ET (10:57 GMT)

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