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BP sells half-share of Libyan assets to Eni, raising prospect of exploration revival

On 8 October in London, BP group chief executive Bob Dudley, Eni chief executive Claudio Descalzi and National Oil Corporation (NOC) chairman Mustafa Sanalla signed a letter of intent paving the way for Eni’s purchase of a 42.5% interest in BP’s exploration and production-sharing agreement (EPSA). The EPSA includes three contract areas, two in the onshore Ghadames Basin and one in the offshore Sirte Basin, covering a total area of around 54,000km2.

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