Libya: Eni and BP Launch First Deepwater Exploration Drilling in the Gulf of Sirte

The National Oil Corporation (NOC), Libya’s national oil company, has launched the country’s first deepwater hydrocarbon exploration drilling alongside Eni, BP and the Libyan Investment Authority. The operation, announced on January 17, 2026, is taking place in the Gulf of Sirte, within contract area 38/3. The drilling vessel, operated by Italian company Saipem, is working in approximately 1,900 meters of water depth and targeting a total depth of approximately 4,500 meters below the seabed.