Summary:

On 7 July 2025, oil majors British Petroleum (BP)Shell signed agreements with Libya’s National Oil Corporation (NOC) marking another major step in the return of multinational energy firms to Libya after the 2011 revolution.  

For BP, the MOU includes plans to re-open offices in Tripoli and the resumption of projects, with a focus on closely monitoring operational progress.  

As part of this renewed engagement, BP signed an MoU to explore the potential revival of two major oil fields. The agreement sets out a framework for joint technical assessments and collaboration between the two companies. 

BP’s MoU covers feasibility studies related to the exploration and production potential in the Masala and Sarir fields, along with adjacent exploration areas. 

Separately, Emirates Nuclear Energy Company (ENEC) reached an agreement with Shell, under which Shell will evaluate hydrocarbon prospects and conduct a comprehensive technical and economic feasibility study for the development of the Atshan field and other fields fully owned by ENEC. These fields fall outside any third-party concession rights, involving only ENEC and Shell in the development process. 

In parallel with renewed international engagement, Libya’s domestic energy sector is also showing signs of progress. Masoud Suleiman Masoud, Chairman of the National Oil Corporation (NOC), congratulated the Sirte Oil and Gas Production and Processing Company for successfully completing the drilling and inspection of the C357H-6 horizontal well in the Zilten field, which achieved an impressive production rate of 1,985 barrels per day of clean, water-free oil. 

Outlook: 

More than a decade after the 2011 conflict, Libya is steadily working to reclaim its legacy as one of Africa’s most resource-rich nations and a leading exporter of energy products to the global market.  

The return of British Petroleum (BP) and Shell signals renewed confidence in Libya’s energy sector despite recent instability in Tripoli. The involvement of global players like BP, Shell, and ENEC to assess new hydrocarbon prospects, highlights Libya’s enduring strategic importance to international energy markets. 

At the same time, domestic efforts to boost production are showing tangible results, illustrating Libya’s commitment to increasing output and modernizing its operations within its domestic industry. These developments reflect a broader national strategy to attract foreign investment, restore production capacity, and reestablish Libya’s position as a key player in the global energy landscape. 

However, the success of these initiatives remains closely tied to political stability and the absence of violence across Libya. Overcoming these challenges is essential not only to attract sustained foreign investment but also to safeguard Libya’s reputation as a reliable energy producer. 

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