Core Insights - Zallaf Oil and Gas has successfully shipped its first export cargo from the Chadar oil field, totaling 600,000 barrels [1] - The Chadar field, located in the Sirte Basin, began production in January 2023, initially producing 1,500 barrels of crude oil daily and 7.5 million cubic feet of associated gas [1][2] - The National Oil Corporation (NOC) has been active in discovering new oil fields, with recent announcements of new discoveries in northwestern Libya and the Sirte Basin, indicating a resurgence in oil production [3][4] Company Developments - Zallaf Oil and Gas was established by the NOC in 2017 to develop previously discovered oil fields that had not yet entered production [2] - The NOC has recently announced new discoveries, including a well producing approximately 4,675 barrels of crude oil per day and 2 million cubic feet of gas [3] - Another discovery by OMV's local subsidiary in the Sirte Basin showed production exceeding 4,200 barrels of oil per day, with gas production expected to surpass 2.6 million cubic feet daily [4] Industry Context - Major oil companies, including BP, Shell, Eni, TotalEnergies, Exxon, and Chevron, have resumed operations in Libya, reflecting an improving security environment after years of civil conflict [5] - The NOC has launched its first oil and gas tender in 18 years, attracting interest from international oil companies for both existing fields and new exploration projects [5]

Key Takeaways Shell agrees to sell a 27% non-working interest in the North Cleopatra block to QatarEnergy.SHEL keeps a 36% stake and operatorship, with Chevron and Tharwa Petroleum as other partners.The offshore block, located at the frontier Herodotus basin, spans 3,400 sq km.Shell plc (SHEL) , the British oil and gas giant, has signed an agreement with QatarEnergy to sell a 27% non-working interest in the North Cleopatra block in Egypt. QatarEnergy has mentioned that the deal is contingent upon approvals ...

Equatorial Guinea’s Hydrocarbons and Mining Development Minister, Antonio Oburu Ondo, has announced a new oil and gas licensing round for 2026, dubbed EGRonda 2026. EGRonda 2026 will open 24 blocks to global exploration and production (E&P) companies and offer enhanced fiscal terms aimed at increasing exploration and profitability. The government will maintain its open-door policy, which will allow companies to directly apply and negotiate contracts until the launch of the new licensing round. This appr ...