bp signed a Memorandum of Understanding (MoU) with Libya’s National Oil Corporation (NOC) to evaluate redevelopment opportunities in the mature giant Sarir and Messla oilfields in Libya’s Sirte basin.
Under the MoU, bp will also explore the exploration potential of adjacent areas and examine the wider unconventional oil and gas potential within the country.
The work scope of bp is to assess a range of technical data and, along with NOC, evaluate the presented opportunities to determine the feasibility of future development and exploration programs.
“This agreement reflects our strong interest in deepening our partnership with NOC and supporting the future of Libya’s energy sector. We hope to apply bp’s experience from redeveloping and managing giant oil fields around the world to help optimize the performance of these world-class assets. We look forward to conducting thorough studies, working closely with NOC, to evaluate the resource potential of this promising region.”William Lin, bp executive vice president, gas & low carbon energy.
bp is one of the world’s leading integrated energy companies, headquartered in London. It operates across the entire energy value chain — from exploration and production to refining, marketing, and renewables.
