Libya's National Oil Corp (NOC) has signed agreements with BP and Shell to assess the potential for hydrocarbon exploration and production at three Libyan oilfields. Under a newly-signed Memorandum of Understanding (MoU), BP agreed to study the hydrocarbon potential of the Messla and Sarir oilfields and in some surrounding areas, and should assess the broader “unconventional” oil and gas potential through the extraction of hydrocarbons trapped in porous rock formations. Meanwhile, Shell has agreed with NOC to evaluate hydrocarbon prospects and conduct a comprehensive technical and economic feasibility study to develop the Atshan oilfield and other fields fully owned by NOC.
Despite being one of the largest oil producers of the OPEC, Libya has suffered from disruptions to its oil activities due to internal conflicts, causing oilfield shutdowns and the exit of foreign investors. However, since 2024 several oil giants have resumed their activities, with BP being expected to reopen its office in the capital Tripoli by the end of 2025.
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