BP, Shell to conduct hydrocarbon studies in Africa

Image credit: Jethro Carullo on Unsplash

Libya, Africa's second-largest oil producer and a member of the Organisation of the Petroleum Exporting Countries (OPEC), has suffered from disruptions in oil activities due to disputes between armed rival factions over oil revenues that have often led to oilfield shutdowns.

Foreign investors have been wary of putting money into Libya, which has been in a state of chaos since the overthrow of Muammar Gaddafi in 2011. However, oil giants like Eni, OMV, BP, and Repsol resumed exploration activities in Libya last year after halting them for a decade.

BP will reopen its office in the capital Tripoli during the last quarter of 2025, NOC said.

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It also said it signed a memorandum of understanding with BP to conduct studies to assess the potential for hydrocarbon exploration and production in the Messla and Sarir oilfields, as well as in some surrounding exploration areas.

Separately, the state oil firm said it agreed with Shell to evaluate hydrocarbon prospects and conduct a comprehensive technical and economic feasibility study to develop the Atshan oilfield and other fields fully owned by the NOC.

The national oil output in the past 24 hours has reached 1.385 million barrels per day, according to the NOC website.