Advancing Libyan/British Business

The biggest and best Libyan-British trade/investment gathering in 10 years.

– Sir Vincent Fean, Chairman, Libyan British Business Council (LBBC)

Libya will raise its oil production from 1.25 million barrels a day now to 2.1 mbd by 2024.

– Engineer Mustafa Sanalla, Chairman, National Oil Corporation of Libya

Over 150 Libyan state-owned and private businesses met 41 member companies of the LBBC on 19 -20 November in Tunis. Business meetings and a 1-day conference were organised by the LBBC, strongly supported by its two member banks, BACB and Bank ABC.

The largest Libyan contingent was from the National Oil Corporation (NOC), led by Chairman Mustafa Sanalla plus Board members, operating company Chairmen and the General Manager (Human Resources) dealing with training needs. Chairman Sanalla committed the NOC to raise Libya’s oil production from its current level of 1.25 mbd to 2.1 mbd within 5 years. To meet this ambitious target, investment is needed – but the NOC’s track record for increasing production from just 150,000 bd at its lowest to 1.25 mbd today speaks for itself.

The NOC and LBBC signed a joint Statement of Intent on cooperation in the oil and gas sector, giving priority to strategy planning, postgraduate studies/technical training, advanced technologies off- and on-shore, restoring production at damaged sites, management of mature fields and on-site power generation.

They will meet again in London in 2020 to review progress. The Statement is attached. BP and Petrofac were among the LBBC delegation, alongside Robert Gordon University (RGU) in Aberdeen. Paul de Leeuw, Director of RGU’s Energy Transition Institute, held constructive discussions with Chairman Sanalla and NOC Board members. 10 NOC staff members will undertake postgraduate studies at RGU in 2020.

Mustafa Sanalla was a keynote speaker at the LBBC conference, with Central Bank Governor Saddek Elkaber and Dr Faisel Gergab, Chairman of Libya’s national telecoms company, LPTIC. The Libyan state Power Company GECOL, steel manufacturer LISCO, construction company ODAC and the President of the Libyan Airports Authority also spoke. Over 150 Libyan businesses attended, from all parts of Libya – East, West and South.

British Ambassador to Libya Nick Hopton addressed the LBBC delegates, offering them his strong personal support and that of his commercial team in Tunis and Tripoli. Ambassador Hopton also outlined the UK’s key role promoting UN envoy Ghassan Salame’s efforts to bring an end to the current conflict. UK Deputy Trade Commissioner for Africa Alastair Long confirmed the priority the British Government and its Department for International Trade attach to Libya across all sectors, including Energy, Education and Training, Financial and Legal Services and Healthcare.

Dan Barker explained the role of UK Visas and Immigration before initiating a promising dialogue with the NOC’s General Manager (HR) and Directors of Training from NOC operating companies. Libyan Health Ministry officials and Libyan private sector healthcare practitioners spoke at a productive workshop on hospital development, equipment and medicines supply in the margins of the conference, leading up to a wider bilateral healthcare gathering in London in the spring of 2020, organised by the LBBC.

(Source: LBBC)

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