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National Oil Corporation discusses with the European Union enhancing mechanisms for developing the Libyan oil sector

Pulbished on:

Tripoli, January 27, 2025 (LANA) - The acting Chairman of the Board of Directors of the National Oil Corporation, Masoud Suleiman, received this morning in his office in Tripoli, the Ambassador of the European Union to Libya, "Nicola Orlando" and his accompanying delegation.

During the meeting, the two sides discussed aspects of joint cooperation between the Corporation and the European Union, in the field of enhancing mechanisms for developing the Libyan oil sector, which the Corporation seeks according to approved plans and strategies.

Eng. Masoud confirmed the Corporation's intention to launch a general bidding round for exploration soon, calling on European oil companies to invest in Libya like the rest of the world's companies, noting that Europe is still a key partner for the Libyan oil sector, and that the Corporation looks forward to expanding the scope of partnership in various fields of oil and gas manufacturing and associated industries.

He added that one of the Corporation's priorities during this stage is to maintain the state of stability witnessed by the sector, and to move forward towards increasing daily production rates to reach the specified targets during the coming years.

For his part, the European Union Ambassador praised the level of performance of the Libyan cadres working in the sector, and their achievements at various levels, stressing the European Union's full support for the continued stability of the Libyan oil sector, and the Union's desire to enhance joint cooperation with the National Oil Corporation, and open new horizons for this cooperation, most notably alternative and renewable energy projects.

..(LANA)..