Wednesday, June 4, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Economy

BP Seeks to Boost Oil Recovery Rates in Libya

October 22, 2024
BP Seeks to Boost Oil Recovery Rates in Libya
Share on FacebookShare on Twitter

The National Oil Corporation (NOC) of Libya discussed British Petroleum’s (BP) intentions to expand its investments in Libya on Monday, particularly in the areas of exploration and development. The focus is on projects aimed at enhancing additional recovery rates in oil fields.

During a meeting between the NOC’s business development team and BP officials, discussions centred around BP’s plans to increase its presence in Libya’s oil sector.

BP representatives highlighted Libya’s potential as a key target for investment in oil exploration and field development, a move expected to boost the country’s oil production.

BP currently holds exploration and production agreements in three blocks: one in the Sirte Basin and two in the Ghadames Basin. These agreements are part of a joint venture with the Italian company Eni and the Libyan Investment Authority.

Additionally, BP is preparing to drill its first exploratory well in block B in the Ghadames Basin, marking another step towards deeper involvement in Libya’s oil sector.

The meeting emphasised BP’s commitment to increasing oil recovery rates, aligning with NOC’s broader strategy of optimising production capacity through advanced recovery techniques.

Both sides expressed optimism about the potential of these projects to significantly contribute to Libya’s oil output.

Tags: BPBritish Petroleumlibyanocoil
Next Post
Libyan Human Rights Critcises UN’s Libya Assessment

Libyan Human Rights Critcises UN's Libya Assessment

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Libyan Pilgrim Dies in Makkah During Hajj

IOM: 300 Migrants Returned to Libya in a Week

Greece Eyes Libya Cooperation to Block Boats from Eastern Coast

Benghazi Airport to Open in 2026

Haftar: Libyan National Army Ready to Facilitate Elections

Saddam Haftar Attends French-Led Mediterranean Military Summit

EDITOR PICKS

285 Migrants Arrested in Libya’s Al-Jufra

Schlumberger & Sirte Oil Plan New Drilling Projects in Libya

UN Slams Libya over Abuse in Tripoli Detention Sites

Egypt & UAE Reaffirm Commitment to Libyan Stability

Libyan Pilgrims’ Sacrifices Covered by State

Benghazi Airport to Open in 2026

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR