Libya Seeks Global Oil Players to Resume Operations

Libya Invites Global Oil Firms to Resume Operations (News Central TV)

The Government of National Unity in Libya, which is centered in Tripoli, has encouraged foreign oil companies with contracts with the national oil company to begin operations there.

The country’s National Oil Corporation, NOC, said it would help the companies’ return and provide a safe working environment “in cooperation with the civil and military authorities in Libya”.

NOC Chief Farhat Bengdara

Over the past ten years, armed groups and demonstrators have repeatedly invaded oil fields, leading to production halts.

The ongoing struggle between opposing governments in the country’s west and east for control of resources and power has increased tensions.

With the greatest crude oil reserves in Africa, Libya is desperately trying to boost output in order to finance much-needed improvements to the nation’s infrastructure for housing, transportation, and energy.

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The National Unity Government also on said it had lifted the force majeure for oil and gas explorations. During the last major bout of conflict, groups affiliated with eastern commander Khalifa Haftar cut nearly all of Libya’s oil output for eight months.

“This call comes within the corporation’s efforts to lift force majeure after an objective follow-up and evaluation based on a realistic and logical analysis of the security situation, which has begun to improve dramatically,” NOC said.

It added that the improvement of the security situation has led to “the commencement of excavation work in sites where it was difficult to work in the recent past, in which there are now many global service companies.”

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NOC Chief Farhat Bengdara said in November that oil output had risen to 1.2 million barrels per day (bpd) from 600,000 bpd three months ago and that NOC does not expect any disruption in production.

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