Shell plc and BP p.l.c. signed agreements with Libya’s National Oil Corporation (NOC) to evaluate hydrocarbon potential in three key oilfields, signaling a resurgence of foreign interest in Libya’s oil sector after years of instability since 2011. Libya, Africa’s second-largest oil producer, is aiming to increase its production from recent levels of 1.2 million to 1.3 million barrels per day (bpd) toward a target of 2 million bpd.
Shell’s Initiative at Atshan Oilfield
Shell is leading a technical and economic feasibility study at the Atshan oilfield, part of a broader assessment across NOC-controlled regions.
BP’s Commitment to Reopen Tripoli Office
Meanwhile, BP plans to reopen its Tripoli office by the end of 2025 and will assess the Messla and Sarir oilfields for “unconventional” hydrocarbons, reinstating operations that were previously halted.
Political Context and Production Challenges
Since 2011, Libya’s oil production has fluctuated dramatically, dropping from 1.8 million bpd to as low as 100,000 bpd. Political instability and factional disputes continue to challenge the nation’s oil sector.
