By: Energy capital & power

Oil majors bp and Shell have entered into agreements with Libya’s National Oil Corporation (NOC) to carry out studies on hydrocarbon exploration and production at three oilfields in the country.

Under an MoU with bp, the British major will assess redevelopment opportunities at the mature Darir and Messla oilfields in the Sirte basin. The agreement also covers exploration prospects in nearby areas and aims to evaluate the broader unconventional oil and gas potential across Libya.

“This agreement reflects our strong interest in deepening our partnership with NOC and supporting the future of Libya’s energy sector. We hope to apply bp’s experience from redeveloping and managing giant oil fields around the world to help optimize the performance of these world-class assets,” stated William Lin, Executive Vice President-Gas and Low Carbon Energy, bp.

The agreement establishes a framework for bp to analyze technical data and collaborate with the NOC in evaluating proposed opportunities and the viability of future development and exploration activities. To support project oversight and operational management in Libya, bp has confirmed plans to reopen its Tripoli office by Q4 2025.

Meanwhile, the NOC announced it has reached an agreement with Shell to conduct a detailed feasibility study for the development of the al-Atshan oilfield and other fields fully owned by the NOC.