Libya’s state National Oil Corporation (NOC) reported last Monday (7 July) that BP has confirmed its intention to resume its work in Libya and reopen its office in Tripoli during the last quarter of 2025. Its Tripoli office will manage its projects in the country and closely supervise the progress of its work.
For his part, the NOC Chairman, Masoud Suleiman Masoud, during the signing ceremony of a memorandum of understanding, in London last Monday with BP, welcomed the company’s return to work in Libya, and the expansion of the circle of partnership between the two parties.
In a speech delivered during the signing ceremony, Masoud Suleiman called for the cooperation between the NOC and BP to include training technical and leadership cadres in the fields of oil work in Libya, revealing the aspirations of the NOC to see effective and real BP activity soon in Libya, and a larger and more serious role to develop the oil sector in it.
The MoU signed with BP included studies to assess the potential for exploration and production of hydrocarbons in the Masala and Sarir fields and some of the surrounding exploration areas.
In a separate meeting, the NOC agreed with Shell that the company would assess hydrocarbon prospects and carry out a comprehensive technical and economic feasibility study for the development of the Atshan field and other fields wholly owned by the NOC, and are not located within any area where there are rights of any third party other than the NOC and Shell.
