Libya: Austria’s OMV to Restart Drilling in 2024

OMV to resume drilling activities in Libya’s Sirte Basin to boost the country’s hydrocarbons reserves.

Austrian multinational integrated oil, gas and petrochemical company OMV will resume exploration in Libya’s Sirte Basin in February 2024, according to a statement.

OMV had paused its upstream operations in the basin following the declaration of force majeure in 2014, which was lifted in September last year.

The milestone is in line with efforts by the Libyan government to enhance the country’s oil and gas reserves as well as production capacity.

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