The consortium will explore a 10,300km² deepwater block in the Mediterranean, targeting seismic data collection and drilling.
MOL Group, Repsol, and TPAO have signed a production sharing agreement for offshore hydrocarbon exploration in Libya’s O7 block. The consortium will operate in a 10,300km² area northwest of Benghazi, with water depths exceeding 1,500m.
Repsol holds a 40% stake as operator, while TPAO and MOL Group hold 40% and 20%, respectively. The project includes plans to collect 1,500km of 2D seismic data, 2,300km² of 3D seismic data, and drill one exploration well.
The agreement follows a successful bid earlier this year and aligns with the consortium’s deepwater expertise. Libya’s offshore potential is seen as strategically important for European energy markets.