Libya’s National Oil Corporation (NOC) has signed agreements with supermajors BP and Shell to explore and evaluate the oil and gas potential of several fields in the African country, marking another step in Big Oil returning to doing business in Libya. NOC signed this week a memorandum of understanding with BP under which the UK-based supermajor will conduct studies to assess the potential for hydrocarbon exploration and production in the Messla and Sarir fields, as well as in some surrounding exploration areas. Separately, the Libyan oil…
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