BP, the UK’s largest oil and gas company, has decided to resume oil and gas exploration in Libya. The decision is expected to herald in a new age of sectoral growth in Libya, following a 2018 agreement between the Libyan National Oil Business (NOC), BP, and Eni, an Italian international oil and gas company.

Mustafa Sunallah, Chairman of the NOC, and Gordon Birrell, Executive Vice President of Production and Operations, bp, met in London to make the decision. In addition to resuming exploration, the parties agreed to design a strategy for natural gas development in Libya, with BP playing a key role in developing the country’s gas market. As said at the meeting, the development of gas will be crucial for both the country’s economic growth and European markets.

The NOC and BP have agreed to hold a workshop whereby technical teams of each entity will continue the discussion on developing a natural gas strategy, to position the NOC as a critical part of Europe’s energy recovery.