The Libyan Investment Authority (LIA) has signed a strategic agreement with the British company BP to enhance the partnership, according to the media advisor to the Libyan Investment Authority, Louay Al-Qaryo.

Al-Qaryo added in a statement that the agreement, which was signed at BP’s headquarters in Cairo, aims to enhance cooperation and partnership between the two parties and to confirm the progress of the exploration project in the Ghadames Basin and the Gulf of Sirte for Blocks A, B and C, in partnership with Eni and the National Oil Corporation.

He continued that this project is considered one of the largest exploratory projects in Libya because of the exploration it includes on land and sea.

Searching for new projects in the field of oil and gas to contribute to increasing Libyan production was discussed, as well as alternative energy projects to support the energy sector in Libya and reduce emissions.