British oil giant BP would be “very welcome back” in Libya, Philip Hammond has told MPs.
The Foreign Secretary said Libya’s prime minister-designate Fayez Sarraj made the remark to him on Monday during his unannounced visit to Libya.
Mr Hammond sought to offer hope to UK firms about their potential role in developing Africa’s largest oil and gas reserves as the government of national accord seeks to stabilise a country affected by civil war and Islamic State extremists.
Speaking in the Commons, Conservative Edward Argar (Charnwood) questioned what role UK Trade and Investment (UKTI) and the British Government is playing in ensuring firms are involved in Libya’s oil industry.
He told Mr Hammond: “I welcome the progress you have outlined and appreciate your point about the practical realities on the ground.
“With that in mind the long-term prospects for Libya are clearly linked to its economic prospects, which in turn are in large part linked to its oil industry’s prospects.
“What steps at this early stage are UKTI and the British Government taking to ensure that UK industry can play its full part in bringing the Libyan oil industry back onto the global market?”
Mr Hammond replied: “You are absolutely right. Libya has Africa’s largest oil and gas reserves and a population of only six million so this is clearly, in per capita terms, a potentially wealthy country.
“I’m glad to be able to report that British companies have traditionally played an important role in Libya’s oil and gas industry and prime minister Sarraj specifically made the point yesterday that BP would be very welcome back in the country, and I shall pass that on to BP’s management.”