BP PLC (BP.LN) said Monday it is committed to returning to Libya and continuing its oil and gas exploration program in the country as "soon as conditions allow," as rebel forces strengthen their position in the capital Tripoli and expectations grow that Col. Moammar Gadhafi will be forced out of power.
BP PLC (BP.LN) said Monday it is committed to returning to Libya and
continuing its oil and gas exploration program in the country as "soon as
conditions allow," as rebel forces strengthen their position in the
capital Tripoli and expectations grow that Col. Moammar Gadhafi will be forced
out of power.
The
U.K.
oil
major had begun initial work on a $900 million exploration program in the North
African country when it halted operations in February following the uprising
against Gadhafi and the subsequent outbreak of civil war.
BP said it hasn't yet entered into any commercial transactions with the
Transitional National Council.
Because its exploration project was still in its early stages of development,
the company didn't have much infrastructure in the country when war broke out. However,
a rig in the desert near Ghadames was made as "safe and secure and
possible," although this will still have to be accounted for.
A BP spokesman said the company had no time frame yet for the return of
expatriate workers.
"It is too early to say. We still have close to 100 local staff still on
our books," said BP spokesman Robert Wine.
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