BP Expects Libyan Spud in 2013

UK-firm BP revealed that it plans to begin drilling offshore Libya next year. The company’s $2 billion exploration program in the country has seen fits and starts due to a myriad of reasons, including the conflict to oust long time Libyan leader Muammar Qaddafi last year

BP lifted its suspension of work in Libya in May and expects to soon begin the preliminary work needed before it can start drilling exploration wells.

The company is currently contemplating who to award the contract for geological surveys to, as its tender for the contract closed on August 14.  

As part of a deal with the government BP will explore Libya’s frontier Sirte basin. The company has already acquired 31,000 sq km of 3D seismic data both offshore and onshore, where it holds acreage positions in the Ghadames basin in Libya's western desert.