The National Oil Corporation discussed with BP the latest cooperation updates and upcoming investment plans following the opening of BP’s new office in Tripoli, signaling the British oil giant’s renewed commitment to the Libyan market.
NOC Chairman Masoud Suleiman met with BP representatives in a meeting attended by Nader Zaki, BP’s Regional President for the Middle East and North Africa, and Mahmoud Ismail, the company’s Vice President and General Manager in Libya. According to a statement posted on the NOC’s Facebook page, the discussions focused on progress made under the memorandum of understanding signed last July.
The agreement aims to evaluate the potential development of several oil fields and explore opportunities in undeveloped areas. The meeting also reviewed the work plan and the steps for executing the exploratory well scheduled to be drilled next January, in accordance with the highest technical and occupational safety standards.
The office reopening and the ongoing discussions reflect improving conditions for international oil companies operating in Libya despite ongoing political challenges in the country.
Source: libyaobserver.ly