The media advisor to the Libyan Investment Authority has stated that the Authority signed a strategic agreement with BP to strengthen the partnership.
Al-Qaryo mentioned in a statement to Libya Al-Ahrar TV that the agreement, which was signed at BP’s headquarters in Cairo, aims to strengthen cooperation and partnership between the two parties and to confirm the progress of the exploratory project in the Ghadames Basin and the Gulf of Sirte for blocks A, B & C, in partnership with Eni and the National Oil Corporation.
Al-Qaryo pointed out that this project is considered one of the largest exploratory projects in Libya as it includes explorations on land and at sea.
The Authority’s advisor indicated that the search for new projects in the field of oil and gas was discussed for the purpose of contributing to the increase in Libya’s oil production as well as alternative energy projects to support the energy sector in Libya and reduce emissions.