'NOC East' calls for Talks with IOCs

The newly-created National Oil Corporation (NOC) loyal to the internationally recognised government in the east of Libya has reportedly invited international oil companies (IOCs) to "discuss legally signed agreements and contracts" at a conference in Dubai next month.

The Tobruk government set up the rival company - 'NOC East' - in Benghazi, but oil buyers are still dealing only with the established NOC in Tripoli.

According to Reuters, oil customers have refused to sign any deal with the eastern entity due to legal concerns as geological data to prove ownership of oil reserves are stored at NOC Tripoli.

The invitation to a conference on 2nd September was issued by Naji al-Maghrabi [Nagi Elmagrabi], who was recently appointed chairman of the eastern NOC.

(Source: Reuters)

(Talks image via Shutterstock)

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