BP’s $2 billion offshore drilling activity in Libya set for 2013
British Petroleum has announced plans to start its $2 billion deep-sea drilling program next year, under a joint exploration and production (E&P) agreement with the National Oil Corporation, Libya Herald reported on Monday.
Source : https://www.marocafrik.com/english/BP-s-2-billion-...
Since the lifting of force majeure, in place for 10 monthsin February 2011, a new agreement between NOC and BP was signed in May. At the time BP’s Executive Vice-President for Exploration Michael Daly said: "We look forward to working with the NOC and our partners in the Libyan Investment Authority, to safely implement our drilling program."
As Shell had halted operations BP's return to Libya will be welcome. British firms had stayed away because of security concerns and the field was left to American,Italian and German companies. More British oil and gas companies are now more likely to return.
Since May, BP has been making plans to resume operations in Libya. These include reopening its Tripoli offices and advertising for contractors for logistics and underwater geological surveying.
BP already holds 3D seismic data covering 31,000 km2 of offshore blocks in the Sirte basin and onshore Ghadames basin, since the signing of its 2007 Exploration and Production Sharing Agreement (EPSA) with NOC.
Libya now produces on average 1.5 million barrels of high-quality oil per day.
As Shell had halted operations BP's return to Libya will be welcome. British firms had stayed away because of security concerns and the field was left to American,Italian and German companies. More British oil and gas companies are now more likely to return.
Since May, BP has been making plans to resume operations in Libya. These include reopening its Tripoli offices and advertising for contractors for logistics and underwater geological surveying.
BP already holds 3D seismic data covering 31,000 km2 of offshore blocks in the Sirte basin and onshore Ghadames basin, since the signing of its 2007 Exploration and Production Sharing Agreement (EPSA) with NOC.
Libya now produces on average 1.5 million barrels of high-quality oil per day.
Source : https://www.marocafrik.com/english/BP-s-2-billion-...