Africa: BP signs deal to resume exploration in Libya

BP has entered an agreement with Eni and Libya’s National Oil Corporation (NOC) to resume exploration work in the country.

The energy giant cut back on exploration in Libya in 2014 amid security concerns following a revolution in 2011.

BP currently has an 85% working interest in the EPSA, which includes three contract areas – two in the onshore Ghadames basin and one in the Sirt basin offshore, covering 54,000 square kilometres.

The remaining stake is held by the Libyan Investment Authority.

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