BP and Eni will begin exploratory drilling in Libya in the first quarter of next year, BP’s chief executive Bob Dudley told Reuters. BP has 85 percent in an offshore oil and gas block in the North African country, and earlier this year the Italian major struck a deal with BP to buy half of it. “I’m not sure about this year since it takes time to set up offshore rigs but Q1 for sure,” Dudley said. BP won two exploration licenses in Libya back in 2007, but the 2011 civil war interrupted its plans for the country. This will be the first project that the UK-based supermajor will undertake in the still troubled country after the end of the civil war. The decision by the two major indicates growing confidence that the Libyan authorities are in control of the country’s oil reserves despite the still substantial risk of […]