Repsol: Stability in Libya enabled increased output, and reactivation of 12 wells in 2025
Speaking to Investing website, Fernández said: 'I believe Libya is improving socially, politically, and in terms of security. Its situation is progressing year by year,' noting that production from the company's projects reached 307,000 barrels per day in the second quarter of this year.
He pointed out that Repsol's net share of this production amounted to 43,000 barrels per day, attributing this to increased output in 2024 thanks to new wells. He explained that drilling activity in 2025 led to the reactivation of 12 new wells in the first and second quarters, adding: 'We'll see more new wells in the coming months. Overall production will increase by 12,000 barrels per day, with Repsol's share being 1,500 to 2,000 barrels.'
He emphasized that the company is developing more projects in Libya, noting that a second drilling rig has been contracted to fulfill remaining exploration commitments, including possible early development in the Waha area.
He added that Repsol's average global production reached 557,000 barrels per day, a 3% increase from the first quarter, thanks to stronger contributions from the UK, Trinidad and Tobago, Eagle Ford, and Libya — which offset the effects of divestments and natural declines. Tags: repsol libyan oil
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Libya Observer
7 hours ago
- Libya Observer
Repsol: Stability in Libya enabled increased output, and reactivation of 12 wells in 2025
The CEO of Spanish oil company Repsol, José Ángel Fernández, said that the improvement in Libya's security and social conditions has allowed the company to resume operations and boost production in several fields. Speaking to Investing website, Fernández said: 'I believe Libya is improving socially, politically, and in terms of security. Its situation is progressing year by year,' noting that production from the company's projects reached 307,000 barrels per day in the second quarter of this year. He pointed out that Repsol's net share of this production amounted to 43,000 barrels per day, attributing this to increased output in 2024 thanks to new wells. He explained that drilling activity in 2025 led to the reactivation of 12 new wells in the first and second quarters, adding: 'We'll see more new wells in the coming months. Overall production will increase by 12,000 barrels per day, with Repsol's share being 1,500 to 2,000 barrels.' He emphasized that the company is developing more projects in Libya, noting that a second drilling rig has been contracted to fulfill remaining exploration commitments, including possible early development in the Waha area. He added that Repsol's average global production reached 557,000 barrels per day, a 3% increase from the first quarter, thanks to stronger contributions from the UK, Trinidad and Tobago, Eagle Ford, and Libya — which offset the effects of divestments and natural declines. Tags: repsol libyan oil
Libya Observer
2 days ago
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Weekly News Roundup: Friday, July 25, 2025
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3 days ago
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Libya, Turkey discuss military cooperation at defence expo
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