Located approximately 140 kilometres northwest of Benghazi, the block covers more than 10,300 square kilometres in water depths exceeding 1,500 metres.
The minimum work commitment for this deepwater block includes the acquisition of 1,500 square kilometres of two-dimensional and 2,300 square kilometres of three-dimensional seismic data. This commitment also mandates the drilling of one exploration well to assess the hydrocarbon potential of the area.
Executive Vice President of MOL Group Exploration and Production Zsombor Marton stated that the agreement marks a milestone in the revitalisation of the oil and gas industry in Libya. He added that the region provides “an exceptional offshore exploration opportunity in North Africa”.