BP Reconsiders Libya Drilling Plans

Oil giant BP has said it is reconsidering plans to drill for oil in Libya, due to security concerns following the attack on a gas plant in Algeria in which a number of BP employees were killed.

A BP spokesperson confirmed to Reuters:

We had expected to restart drilling at the end of the second quarter this year, but we’re currently reviewing our plans.

BP announced in May that it was resuming operations in Libya, and in August the company said it would start its $2 billion deep-sea drilling programme in 2013 under its joint Exploration and Production (E&P) agreement with the National Oil Corporation (NOC).

BP’s second thoughts may have been influenced by the recent warnings to foreign nationals regarding travel in the country.

(Source: Libya Herald, Reuters)

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