LIBYA: BP Evaluating Resumption of Activities

The Chairman of the Board of Directors of the National Oil Corporation, Eng. Mustafa Sanalla and the Chairman and CEO of the British Oil Company, Mr. Bernard Looney held a meeting to discuss the resumption of BP’s activity in Libya in its onshore exploration plots in the Ghadames Basin and its offshore blocks in the Sirte Basin according to a statement from NOC.

The two discussed NOC’s strategy for the development of onshore and offshore gas exploration with the aim of raising gas production rates to respond to the increased demand for gas in the global market. BP expressed its desire to hold a technical workshop with the NOC to discuss the details and technical aspects of this strategy and the possibility of its participation in developing some of these opportunities.

Chairman Sanalla, welcomed and supported the return of BP to resume its activities in Libya and its future contribution to the development of oil and gas reserves and raising the current production rates.

The meeting held during the sidelines of the CERAWEEK conference in Houston was also attended by both Dr. Khalifa Rajab Abdulsadek, Advisor to the Chairman and CEO of Murzuq Oil Services Limited, and Mr. William Lin, Executive Vice President of BP.