Libya’s National Oil Corp (NOC) has announced its new strategic plan for the oil and gas sector in Libya after contracting with global management consulting firm Kearney.
We have an ambitious vision to return Libya to the ranks of the world’s foremost energy-producing countries,” noted NOC Chairman Farhat Ben Gdara.
“This requires major changes in the oil and gas sector in Libya and the development of appropriate strategic plans to equip us for the future,” he added.
The company has also announced the creation of the Strategic Programs Office, which will be responsible for implementing this plan and other initiatives, projects and programs, which NOC said will “contribute to the transformation of the oil and gas sector in Libya and ensure it keeps pace with developments in this sector worldwide.”
Libya previously announced the launch of its plan to raise production to 2 million barrels within three to five years, which is one of my core priorities for the NOC.
Italy’s Eni signs $8bn gas deal with Libya amid energy crunch
The energy agreement, signed during Italian PM Meloni’s visit to Tripoli, seeks to boost Libya’s gas output through new offshore gas fields.
Italian energy company Eni and Libya’s National Oil Corporation (NOC) signed an $8bn gas production deal aimed at boosting energy supplies to Europe despite the insecurity and political chaos in the North African country.
The agreement, signed on Saturday during a visit to the capital Tripoli by Italy’s Prime Minister Giorgia Meloni, aimed to increase gas output for the Libyan domestic market, as well as exports through the development of two offshore gas fields.
Output will begin in 2026 and reach a plateau of 21 million cubic metres (750 million cubic feet) per day, Eni said in a statement.
“This agreement will enable important investments in Libya’s energy sector, contributing to local development and job creation while strengthening Eni’s role as a leading operator in the country,” said its Chief Executive Claudio Descalzi.
During her visit, Meloni met Libya’s Prime Minister Abdulhamid Dbeibah, head of the internationally recognised Government of National Unity (GNU) in Tripoli, for talks that also focused on migration across the Mediterranean.
Libyan Oil, Gas and Renewable Energy Exhibition 2023
The exhibition aims to highlight the latest findings of the oil and gas industry and renewable energies, and to create an opportunity to discuss trade exchange and standardize cooperation between local, Arab and international partnerships, and to introduce the work and programs of renewable energies that abound with interest and follow-up and the scope of their development; The exhibition is very crucial for all Energy stockholders in the region where oil and gas professionals convene to engage in dialogue, create partnerships, do business and identify solutions and strategies that will reshape the global energy markets.
Sources: Oilandgasmiddleeast.com + AlJazeera.com
