BP and Libya’s National Oil Corporation (NOC) have entered into a memorandum of understanding (MoU) to explore the redevelopment of the Sarir and Messla oilfields, located in the Sirte Basin.
This agreement also covers evaluating the potential for unconventional oil and gas resources in Libya. The MoU enables BP to assess technical data in collaboration with NOC to identify opportunities for future development efforts.
The Sarir and Messla fields, which are among Libya’s largest, were discovered in 1961 and 1971, respectively.
As part of the MoU, BP will conduct exploratory studies to evaluate hydrocarbon prospects in these fields and surrounding areas. This initiative marks a significant potential expansion of BP’s interests in Libya.
BP plans to resume its operations in Libya, reopening its Tripoli office in Q4 2025. The company aims to manage its projects closely from this location.
Since re-entering Libya in 2007 through an Exploration and Production Sharing Agreement (EPSA), BP’s activities had been paused due to a force majeure declaration.
However, operations resumed in 2023 when BP and Eni lifted the force majeure, continuing exploration activities in onshore areas.
BP gas and low carbon energy executive vice president William Lin said: “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 optimise the performance of these world-class assets. We look forward to conducting thorough studies, working closely with NOC, to evaluate the resource potential of this promising region.”
In addition, NOC has reached an agreement with Shell for evaluating hydrocarbon possibilities and performing feasibility studies for the al-Atshan field and other wholly owned NOC fields. This agreement excludes any areas where third parties have rights outside of NOC and Shell.
