BP has reaffirmed plans to return to Libya to pursue a $2 billion exploration project seeking LNG-scale gas reserves.
Rival European player Shell, however, has quit a similar gas-focused venture after poor results.
BP’s decision to return to the North African producer, after suspending all activities at the start of the anti-Gaddafi rebellion early last year, represents a significant vote of confidence for the interim government in Tripoli.
Sources said exploration work onshore and offshore is unlikely to start until at least next year because of continuing concerns over security.
Shell,
