British Petroleum (BP) is looking to expand its involvement in Libya, particularly in exploration and development, according to the NOC. It also says that the UK-based company is interested in providing new systems aimed at boosting oil production. A BP delegation was in Tripoli on 21 October for talks with the NOC about cooperation.
According to the NOC, the BP team confirmed during the meeting that Libya is one its target list for investment in field exploration and development.
BP already has three concessions in Libya which were awarded in 2007, one offshore in the Sirte basin and two onshore in the Ghadames basin. However, it pulled staff out of the country in 2013 for security reasons. Then, in 2018, it signed a Letter of Intent with the NOC and Eni under which the Italian energy giant would acquire half of BP’s 85-percent share in the concessions and effectively be the operator for BP’s interest. At the time, the then CEO of CP, Bob Dudley, called the agreement an “important step towards returning to our work in Libya”.
In January this year, BP and the LIA which owns the remaining 15-percent stake in the concessions signed an agreement in Cairo to enhance their partnership in the development of the fields.
In its statement about yesterday’s meeting, the NOC also said that BP is actually preparing to start drilling operations for the first well in Area B in the Ghadames basin.
