Set up in 2013 to tap Libya’s discovered but as-yet undeveloped fields, Zallaf Oil & Gas has been quietly awarded several blocks by its parent National Oil Corporation (NOC) over the years. Most are in the southwest of the country, where the key producing fields are Repsol-led 300,000 b/d Sharara and Eni’s 70,000 b/d El Feel. In many ways, Zallaf is NOC’s answer to foreign firms exiting Libya.
Zallaf is based in the southwestern oasis town of Sebha, a nod to post-Gaddafi calls for decentralization of state institutions. But Zallaf has yet to show that it is capable of carrying out the work, which at a minimum would involve securing hundreds of millions of dollars in funding and enlisting the help of international services firms. (CONTINUED - 1773 WORDS)