BP to Begin Libya Deep-Water Exploration by October, Official Says

    Posted 8:10AM 08/16/10 Posted under: Energy, Company News, Technology, Economy, Green, BP, Stocks in the News
    BP (BP) will likely start drilling deep-water wells in Libya by October, the country's top oil official said.

    "They are delaying because of technical problems, they want to be assured that all the instruments are working well and they don't want a repeat of Macondo -- it may take another two months at most," Shokri Ghanem, Chairman of Libya's National Oil Corp., or NOC said, according to The Wall Street Journal.

    BP aims to drill at least five wells in Libya's Gulf of Sirte. The depths will be greater than the ruptured Macondo oil well in the Gulf of Mexico.

    Earlier in August, BP said it had delayed its start date for deep-water exploration off Libya to ensure all its plans are in order.

    Mark Salt, a spokesman for BP, told The Wall Street Journal that the oil giant plans to start drilling in Libya this year, but didn't give a specific date.

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    bryce1515

    are you kidding me after all they did to the gulf of mexico. The destruction caused by their deep water drilling accident will be remembered for a long time in america. Who in the hell is letting them do the same thing all over again? Libya better stand up to these bringers of death and doom! stop deepwater drilling for good.

    August 16 2010 at 3:21 PM Report abuse rate up rate down Reply