Italian Prime Minister prepares for Libya trip 2023 to sign oil & gas deals

Italian Prime Minister Giorgia Meloni is preparing for a visit to Libya as part of efforts to secure more oil and gas supplies from North Africa.

Ms.Meloni may go to the capital Tripoli as early as Saturday, Bloomberg reported.

The trip is not confirmed and might be delayed or cancelled because of security concerns, the news agency reported sources as saying.

The visit comes as Libya’s National Oil Corporation is set to sign offshore gas exploration and production agreements worth $8 billion with Italian energy company Eni, according to media reports.

Libya, OPEC’s seventh-largest crude oil producer, has been looking to boost production after years of being plagued by conflict and political instability.

The NOC plans to bolster oil production to 2.1 million barrels per day by 2025.

To reach this target, it aims to develop new projects and rehabilitate oil fields damaged during conflict while increasing power supply to the areas.