BP to resume oil activity in Libya

BP to resume oil activity in Libya

The British Oil Company (BP) agreed with Libya’s National Oil Corporation (NOC) to resume its oil activity in the country, NOC announced on Monday.

The announcement came following a meeting between Mustafa Sanalla, NOC’s chairman, and Bernard Looney, BP’s CEO, during the activities of the CERAWEEK conference in the U.S. city of Houston.

“Mr. Sanalla and Mr. Looney discussed 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,” NOC said in a statement.

“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.”