08-07-2025
UK's BP to explore redevelopment of two mature oilfields in Libya
British oil company BP has signed a memorandum of understanding (MoU) with Libya's National Oil Corporation (NOC) to explore redevelopment opportunities in the North African nation's two mature oil fields.
The UK-based company will assess a range of technical data, evaluate the opportunities and determine the feasibility of future development and exploration programmes in Sarir and Messla oil fields in Libya's Sirte basin, it said in a statement on Tuesday.
The MoU extends to the exploration potential of adjoining areas.
'This agreement reflects our strong interest in deepening our partnership with NOC and supporting the future of Libya's energy sector,' said William Lin, executive vice president - gas & low carbon energy, BP.
He said the company will conduct thorough studies and work closely with NOC to estimate the resource potential in Libya.
(Writing by P Deol; Editing by Anoop Menon)
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