Libya’s National Oil Corporation (NOC) is teaming up with BP and Eni to resume exploration activities halted in 2014 due to security concerns.
A deal was signed in London on Monday that will see Eni acquire a 42.5% interest in the BP-operated exploration and production sharing agreement (EPSA) in Libya.
Eni will also become operator of the EPSA.
BP currently has an 85% working interest, with the Libyan Investment Authority holding the rest.
