E Launches New Compression Project to Sustain Bahr Essalam Gas Output

Eni S.p.A E, an Italian integrated energy company, in partnership with Libya’s state-owned National Oil Company ("NOC"), announced that it has successfully started production from the Sabratha Compression Project through its joint venture, Mellitah Oil & Gas. The Sabratha Compression Project is an…

Eni S.p.A E, an Italian integrated energy company, in partnership with Libya’s state-owned National Oil Company ("NOC"), announced that it has successfully started production from the Sabratha Compression Project through its joint venture, Mellitah Oil & Gas. The Sabratha Compression Project is an offshore development aimed at maintaining and increasing natural gas production from the Bahr Essalam gas field. The project will help offset the field's natural production decline.

The project involves the installation of a 1,600-ton offshore compression module on the existing Sabratha production platform. The compression module comes with new gas compression trains, which should help increase the pressure of natural gas at the field. Eni highlighted that the compression system offers a total compression capacity of nearly 440 million standard cubic feet per day (MMscfd).

The compression module allows production at the gas field to continue even under low-pressure conditions. This is expected to enhance gas recovery at the Bahr Essalam field and offset the natural production decline. The project is expected to add approximately 800 million cubic meters of natural gas volumes on an annual basis, along with associated condensates.

The project not only increases the recoverable gas volumes from the field but also enables the country to maximize the value of its offshore resources. The incremental production is strategically important for Libya's energy sector, helping sustain the country's power generation needs. Moreover, beyond its domestic needs, the project will support Libya’s energy exports to Italy through the Greenstream pipeline.

The commencement of operations at the Sabratha Compression Project underscores the commitment and execution capabilities of Eni and NOC in bringing complex offshore projects online, safely and on time. The project also contributes to Libya’s energy security and helps stabilize long-term gas production in the country. Eni is a leading operator in Libya and has maintained its presence in the country since 1959.

E’s Zacks Rank and Key Picks

E currently has a Zacks Rank #4 (Sell).

Some better-ranked stocks from the energy sector are Cenovus Energy CVE, W&T Offshore WTI and FuelCell Energy FCEL. While Cenovus Energy sports a Zacks Rank #1 (Strong Buy), W&T Offshore and FuelCell Energy each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks Rank #1 stocks here.

Cenovus Energy Inc. is a Canadian integrated energy company with operations spanning the upstream, midstream and downstream sectors. The company is involved in exploration and production from its low-cost oil sands and heavy oil assets in Canada. The strategic MEG Energy acquisition is expected to boost Cenovus Energy's production levels in 2026.

W&T Offshore benefits from its prolific Gulf of America assets, which offer low-decline rates, strong permeability and significant untapped reserves. The company’s properties include around 457,700 gross acres on the conventional Shelf, 5,600 gross acres in Alabama State Waters and about 141,900 gross acres in the Deepwater region. Its GoA discoveries should boost future production prospects and are expected to enhance revenues.

FuelCell Energy is a clean energy company that offers scalable, reliable, low-carbon power solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company’s proprietary molten carbonate fuel cell systems generate electricity through an electrochemical process instead of burning fuel, reducing carbon emissions and minimizing the environmental impact of power generation. FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.

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