BP, Eni to start exploratory drilling in Libya in first quarter of 2019

BP (Photograph: Luke Macgregor/Reuters)

British Petroleum and its Italian partner Eni are expected to start exploratory drilling in Libya early in the first quarter of 2019, according to the chairman of the country’s National Oil Company Mustafa Sanallah.

“The first well will be drilled at the beginning of the first quarter,” Mustafa Sanallah told the Telegraph.

“I’m optimistic. The Italians are courageous and have experience on the ground, but the return of BP is the most important thing.

“It sends a strong signal to other international oil companies that the Libyan market is promising.” He added, according to The Telegraph.

The UK-listed oil company’s return to Libya comes seven years after its exploration programme was interrupted in 2011.

BP’s comeback was preceded by a deal to sell 42.5pc of its 85pc stake in an exploration license that covers three areas — two onshore sites in the Ghadames basin and one offshore area in the Sirt basin — to Eni.

The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
You might also like

Submit a Correction

For: BP, Eni to start exploratory drilling in Libya in first quarter of 2019

Your suggestion have been successfully submitted

There was an error while trying to send your request. Please try again.

Libyan Express will use the information you provide on this form to be in touch with you and to provide updates and marketing.