The Libyan Investment Authority (LIA) and British company BP have strengthened their partnership by signing a strategic agreement, as announced by Louay Al-Qaryo, the media advisor to the Libyan Investment Authority.
Al-Qaryo added in a statement that the agreement, which was signed at BP’s headquarters in Cairo, aims to enhance cooperation and partnership between the two parties and to confirm the progress of the exploration project in the Ghadames Basin and the Gulf of Sirte for Blocks A, B, and C, in partnership with Eni and the National Oil Corporation.
He continued that this project is considered one of the largest exploratory projects in Libya because of the exploration it includes on land and sea.
The discussion focused on actively searching for new projects in the oil and gas sector to boost Libyan production. Additionally, exploring alternative energy initiatives was emphasised to bolster the country’s energy sector and mitigate emissions.
