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

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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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