Private Sector to Restore Oilfields

By John Lee.

The Chairman of the National Oil Corporation (NOC) held a meeting with Chairman and Members of the Libyan Businessmen Council on Thursday.

Mustafa Sanalla opened the meeting referring to the decline of the exchange rate of the Libyan Dinar and its impact on the national economy. He also mentioned the efforts exerted by the NOC and its affiliates to achieve its production targets in order to increase the national income of foreign currency, and the NOC’s persistent attempts to support and improve the private sector.

He added that the NOC had many development projects, in addition to maintenance work at many oil fields and facilities which had previously been attacked, and said that the NOC would implement those works in partnership with the private sector under a stable security situation in the country.

Sanalla said he was optimistic about the possibility of production increases in the second half of this year.

(Source: NOC)

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