Eni and Libya's state oil company have lifted force majeure on a trio of onshore and offshore blocks, almost 10 years after they were forced to pull the plug on exploration activities due to security conditions.
The decision will be a big boost for state-owned National Oil Corporation (NOC) and the Libyan authorities, which are keen for foreign investors to invest in the beleaguered nation’s upstream sector — a huge provider of government revenues — and have appealed to companies to consider lifting force majeures.
