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Following a meeting between Nuri Berruien, the head of Libya's National Oil Corporation (NOC), and Michael Daly, BP's executive president for exploration, in Tripoli on May 29, 2012, BP announced plans to resume pursuing Libya oil interests, halted when the North African country witnessed pro-democracy protests last year.|
"During the meeting, BP announced the lifting of the state of force majeure starting on May 15, 2012, and return to carry out exploratory activity at onshore and offshore areas belonging to it in Libya," NOC said in a statement on its website.
"We need to get contractors back in for the onshore and offshore drilling, then it's back to work as soon as possible," Daly said.
Earlier this month, British companies gathered in London for a one-day conference sponsored by finance firm PwC, to compete for billions of pounds worth of contracts in oil-rich Libya as it is pressing ahead with plans to restore its infrastructure torn apart by the very same government.
Before the beginning of revolution in Libya in February 2011, the oil-rich country produced around 1.6 million barrels per day. Libya was the seventeenth-largest oil producer in the world and the third largest in Africa.