BP back in Libya after 30-year absence

July 2007
TCE: The Chemical Engineer;Jul2007, Issue 793, p5
Academic Journal
The article reports on the agreement of BP to form a joint venture with Libya Investment Corp. that will see it return to the North African country after being absent for over 30 years. According to BP CEO Tony Hayward, the $900 million deal will only cover the initial exploration of potential gas fields at the onshore Ghadames and offshore Sirt basins. Under the deal, the companies will explore some 54,000 square kilometers of the onshore Ghadames and offshore frontier Sirt basins.


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