Tag Archives | National Oil Corporation (NOC)

NOC, Eni establish Steering Cmte for Sabratha Gas Project

By John Lee. The National Oil Corporation (NOC) and Italian oil major Eni have signed two memoranda of understanding (MoU), the first concerning the establishment of a steering committee to expedite gas production at structures ‘A’ and ‘E’ within maritime concession MN 41 in the Sabratha marine basin. The steering committee will oversee the timely […]

Libyan Oil Revenues down 21% in February

By John Lee. February income from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts, was $1.26 billion – a more than $330 million (-21%) month-on-month decrease. The drop in oil revenue is attributed to adverse weather conditions affecting exports from the Es Sider port, in addition […]

NOC commits to Transparency and Governance Framework

By John Lee. NOC commits to transparency and governance framework at EITI summit The Chairman of National Oil Corporation (NOC), Mustafa Sanalla, has reaffirmed the NOC’s institutional commitment to good governance and fiscal accountability at a meeting on ‘transparency in commodity trading’ hosted by the Swiss State Secretariat for Economic Affairs (SECO) and the Extractive […]

“Promising Results” from new Well in Sirte Basin

By John Lee. The National Oil Corporation (NOC) and its subsidiary, the Arabian Gulf Oil Company (AGOCO), have announced what they describe as “promising test results” from appraisal well Y3-51 in the Sirte Basin, with a potential production capacity of nearly 8,500 oil barrels per day (bpd) and 1.82 million cubic feet of gas. The […]

Latest Oil Tenders

By John Lee. The National Oil Corporation (NOC) has advertised new tenders: Engineering, Procurement, Construction, Installation, and commissioning (EPIC) of Compression Module(s) project (Sabratha Platform), Mellitah Oil & Gas Test separators for Amal Station, Harouge Oil Operations (HOO) Gas Utilization Project at Bouri Field, Mellitah Oil & Gas (Source: National Oil Corporation) (Picture: Call for […]

$20m Fund to Support Communities near Oilfields

By John Lee. The National Oil Corporation (NOC) and a group of international partners made up of Repsol, OMV, Total, and Equinor, known as the ’Repsol Consortium’, have signed a 20-million USD agreement to support a series of sustainable development projects essential for residents adjacent to sites operated by NOC subsidiary Akakus. The 20-million USD […]

German Firms Interested in Libyan Energy Sector

By John Lee. The Chairman of National Oil Corporation (NOC), Mustafa Sanalla, took part in the Libyan-German Economic Forum, held on March 8, 2019, in Tunis, alongside a number of other sovereign state institutions and His Excellency Oliver Owcza, Ambassador to Libya. Discussions focussed on Libya’s economic recovery and in-country investment opportunities. German companies expressed […]

January Oil Revenues Down 30%

By John Lee. Libya’s National Oil Corporation (NOC) has announed that January income from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts, was just over 1.6 billion USD – a drop of more than 680 million USD (-30%) compared with the previous month. While 2018 represented […]