H.E. Masoud Suleman, Chairman of Libya’s National Oil Corporation (NOC), met with Ms Meg O’Neill, Chief Executive Officer of BP, on the sidelines of ADIPEC in Abu Dhabi to review ongoing cooperation and discuss opportunities to further develop the company’s engagement in Libya’s oil and gas sector.
The discussions focused on existing areas of collaboration, prospects for expanding cooperation, and the importance of continued coordination to support exploration and development activities. According to the NOC’s statement, Suleman emphasised the role of joint work in making use of opportunities across Libya’s hydrocarbon industry.
The meeting comes against the backdrop of a longstanding relationship between BP and Libya, alongside more recent efforts to assess opportunities in some of the country’s largest producing fields.
In July 2025, BP signed a memorandum of understanding with the NOC to evaluate potential redevelopment of the Sarir and Messla oilfields in the Sirte Basin. The scope also covered exploration opportunities in surrounding areas and an assessment of Libya’s wider unconventional oil and gas potential. The agreement established a framework for reviewing technical information and assessing the feasibility of future exploration and development programmes.
BP’s existing exploration partnership dates back to its return to Libya in 2007, when it signed an exploration and production sharing agreement covering two onshore areas and one offshore area. Operations were subsequently suspended under force majeure.
In 2022, Eni acquired a 42.5% interest and assumed exploration operatorship, with BP retaining 42.5% and the Libyan Investment Authority holding the remaining 15%. BP says the partners formally lifted force majeure in 2023 and resumed onshore exploration operations.
Alongside these partnerships, Libya has sought to attract additional international investment through its licensing programme. Results announced in February 2026 included awards to Chevron, Aiteo, an Eni–QatarEnergy consortium and partnerships involving Repsol, Türkiye’s TPAO and Hungary’s MOL. The round marked a renewed opening of exploration acreage to international investors after a lengthy gap in competitive licensing.
Together, BP’s established exploration interests and its more recent field-assessment agreement provide the background to the ADIPEC discussions. They span both the search for additional resources and the evaluation of redevelopment opportunities at mature fields.
