Developer cuts budget for Libya gas project
27 August 2025
The project to develop Libya’s Al-Atshan gas field has had its budget cut and is now on hold, according to industry sources.
The project is being developed by Libya’s Zallaf Oil & Gas and is estimated to be worth about $350m.
The project comprises several packages, focused on developing infrastructure for the field, including a central processing facility (CPF), an export pipeline, a gas receiving station and a residential facility.
Earlier this year, companies submitted prequalification documents for the geotechnical and geophysical surveys associated with the project.
Additionally, in early July, London-based Shell signed a conditional agreement with Libya’s National Oil Corporation (NOC) to develop the Al-Atshan field and other fields that the state-owned oil company controls.
Libya’s NOC said on 7 July that its memorandum of understanding with Shell will allow the international oil company to evaluate hydrocarbons prospects and conduct a comprehensive technical and economic feasibility study to develop Al-Atshan.
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In July, MEED reported that feasibility studies for the project had been completed, but PIC was waiting for confirmation of the volumes of gas that would be available for the project as feedstock.
The Olefins IV project is expected to use natural gas produced by upstream operator Kuwait Oil Company (KOC), another KPC subsidiary.
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As part of PIC’s long-term strategy, which looks ahead to 2040, it is aiming to scale up its portfolio and leverage partnerships to add value.
The company has stated that it aims to expand its core portfolio both within and outside Kuwait through greenfield and brownfield projects, with the goal of achieving a leading global position.
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