Sanalla discusses Investment Opportunities with leading IOCs

As part of the inaugural Libyan-European oil and gas summit held in Vienna last week, Libya’s National Oil Corporation (NOC) chairman Mustafa Sanalla met with representatives from leading oil and gas companies.

He was accompanied by NOC Board member Abulgasem Shengheer, and the heads and specialists of a number of NOC affiliated companies. Individual meetings were conducted with OMV, Schlumberger, BP, Repsol, Metka, Medco and Gazprom.

Mr. Sanalla spoke of the exceptional investment opportunities currently in the Libyan oil and gas sector, and received service offering presentations from assembled IOCs. Each company explained their portfolio of operations and ideal future partnership cooperation.

The NOC chairman confirmed that international companies are welcome to contribute to the restoration of oil field and port infrastructure, and to establish development projects in accordance with existing legal frameworks and fair competition practice. He emphasised the importance of knowledge exchange and best practice to enable NOC to realise its stated ambition of increasing production to more than 2 million bpd by 2022.

Mr. Sanalla underlined international community recognition of NOC as the sole legitimate Libyan NOC, and the importance of the respect for both international and Libyan law. Any illegitimate parallel institution that seeks to divide the Libyan oil and gas sector must be condemned.

He expressed his hope for a swift resolution of the current standoff in the Gulf of Sirte, and for NOC to be allowed, unconstrained, to continue its role supporting the livelihoods of the Libyan people. The assembled IOCs expressed their commitment and support to NOC as the only legitimate Libyan institution responsible for the exploration, development and sale of Libyan oil.

(Source: National Oil Corporation)

One Response to Sanalla discusses Investment Opportunities with leading IOCs

  1. Mohammed Algodban 8th July 2018 at 12:45 am #

    Good luck 😉

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