Eni is pressing on with investment in Libya. But most is offshore and in wet gas fields. At key onshore oil fields an output slump is already underway.

Eni, Libya’s largest foreign producer, expects a slump in output in the coming years, according to the firm's recently announced 2018-21 strategy.

“We have a rate that was about 300,000 b/d,”  Eni CEO Claudio Descalzi told investors at the presentation of the strategy on 16 March. “At the end of the plan,...