bp and Libya's NOC to assess revival of giant oilfields

BP and Libya’s NOC target revival of giant oilfields

Libya

TRIPOLI, July 8, 2025 – BP has signed an MoU with Libya’s National Oil Corporation (NOC) to evaluate the redevelopment of the giant Sarir and Messla oilfields and explore the country’s unconventional oil and gas potential, the company said on Tuesday.

Sarir and Messla, discovered by BP in 1961 and 1971, respectively, are among Libya’s largest oilfields.

The agreement allows BP to review technical data and co-operate with NOC on assessing the feasibility of future development and exploration. The MoU marks a potential expansion of BP’s Libyan portfolio following the resumption of exploration operations in 2023 under an existing EPSA.

“This agreement reflects our strong interest in deepening our partnership with NOC and supporting the future of Libya’s energy sector,” BP executive vice-president for gas and low-carbon energy William Lin said.

“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.”

Libya’s oil industry has seen a cautious revival in recent years, following periods of conflict and operational disruptions. Production has stabilised above 1 million bopd, supported by renewed foreign investment, infrastructure repairs and efforts by NOC to restore capacity at key oilfields.