Archive | Oil & Gas

Rising Oil Prices bolster April Revenues

The National Oil Corporation (NOC) has reported a 22-percent increase in income for April. The company said it received “1.87 billion USD from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts – a monthly increase of approximately 340 million USD (+22%)“. Revenue figures were bolstered by […]

Latest Oil Tenders

By John Lee. The National Oil Corporation (NOC) has advertised new tenders: 3 production separators at GOSP 3,7, &8 at Nafoora field project No-M-14, Arabian Gulf Oil Company (AGOCO) Refurbishment of Laboratory Building (Nafoora Oil Field), Arabian Gulf Oil Company (AGOCO) Refurbishment of Laboratory Building (Messla Oil Field), Arabian Gulf Oil Company (AGOCO) Inspection and […]

New NOC Houston Office for $60bn Procurement Drive

By John Lee. The National Oil Corporation (NOC) has inaugurated its first international headquarters in Houston, an office mandated to lead a 60 billion USD procurement drive to upgrade Libya’s oil and gas sector and increase production capacity to 2.1 million barrels per day by 2023. NOC chairman Mustafa Sanalla, addressing an audience of top […]

NOC, Halliburton discuss Resumption of Libyan Activities

By John Lee. National Oil Corporation (NOC) chairman Mustafa Sanalla and Halliburton president, CEO, and chairman of the Board, Jeff Miller, met in Houston on 8 May 2019, to discuss closer cooperation and Halliburton’s scheduled resumption of in-country onshore and offshore activity. Chairman Sanalla and an NOC delegation toured Halliburton’s Research and Development Centre and […]

Schlumberger agree Timetable for New Projects with NOC

By John Lee. NOC and Schlumberger agree timetable on new projects in Murzuq and Sirte National Oil Corporation (NOC) chairman, Eng. Mustafa Sanalla met Schlumberger chairman and CEO, Mr Olivier Le Peuch, on May 9,2019, to discuss Libyan onshore and offshore field development. The two parties also agreed to sign a memorandum of understanding in […]

Tripoli Govt “Threatens to Suspend” 40 Foreign firms

By John Lee. The Tripoli-based Government of National Accord (GNA) has reportedly asked 40 foreign firms to renew their licences or have their operations suspended. According to Reuters, the companies, including Total of France, have three months to renew their licences. The decree from the Ministry of Economy and Industry was issued while GNA Prime […]

Latest Oil Tenders

By John Lee. The National Oil Corporation (NOC) has advertised new tenders: Construction of laboratory building at Sarir field, Arabian Gulf Oil Company (AGOCO) Painting and coating of offshore installations, Mabruk Oil Operations Study of water disposal & injection system at Beda field, Arabian Gulf Oil Company (AGOCO) Tie-in of water wells ww-1 and ww-2 […]

Suncor gets $264m Insurance Gain on Libyan Assets

By John Lee. Profits at Canada’s Suncor’s have benefitted from an insurance gain of $264 million on its assets in Libya. According to a statement from the company: “During the first quarter of 2019, the company received $363 million in insurance proceeds for its Libyan assets ($264 million after‑tax). The proceeds may be subject to […]