BP deep-water drilling campaign may be on hold until late next year

A British Petroleum (BP) sign is seen at a petrol station in south London July 29, 2008. British oil major BP Plc posted a 61 percent jump in underlying second-quarter profit thanks to high oil prices, beating analysts expectations and boosting the company's shares. REUTERS/Dylan Martinez (BRITAIN)

Plans: UK supermajor BP could push back its deep-water drilling campaign off Libya until late 2013

REUTERS/DYLAN MARTINEZ

By Nassir Shirkhani Tripoli

 27 September 2012 22:59 GMT

Plans by UK supermajor BP to start its eagerly awaited deep­water drilling campaign off Libya may be pushed back to the fourth quarter of 2013 as the new authorities struggle to put exploration efforts back on track following last year’s overthrow of Muammar Gaddafi.

BP is also expected to begin onshore drilling in the first half of next year under its $2 billion exploration deal signed in 2007.

National Oil Company (NOC) chairman Nuri Berruien said BP had a commitment to drill five wells in deep offshore waters by the end of 2013 provided it secured a drillship for the job.

BP’s campaign is part of a wider exploration drilling programme next year by international oil companies which were awarded blocks in 2006 and 2007.

Poland’s Oil & Gas Company and Germany’s RWE said they will spud a…

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