By Sami Zaptia.
London, 9 December 2020:
Libya’s state National Oil Corporation (NOC) and KPMG Tunisia signed a consultancy contract yesterday at the former’s Tripoli headquarters. The work is to start immediately.
The NOC reported yesterday that the contract was for a project to develop a comprehensive system for financial and administrative systems, human resources, marketing, manufacturing, exploration and production,
NOC Chairman Mustafa Sanallah, said at the signing ceremony that by concluding and implementing this important agreement, the NOC will enable the automation of all its work, and the introduction of modern digital technology to all its financial, administrative and technical systems related to the fields of exploration, production, manufacturing and marketing International and human resources.
These, he added, would contribute to strengthening the position of the global institution, as the first sovereign entity in Libya to implement the concept of transparency and good governance with high professionalism, and in line with the standards by which major energy companies operate at the international level.
“KPMG was chosen to implement this project, as it is one of the four best companies in the world and because of its extensive experience in this field, and we hope that the company will be able to achieve the goals of the institution. The NOC is to digitally transform all its businesses over the next two years’’.
The Chairman and members of the Board of Directors at the National Oil Corporation have directed all concerned departments to provide the necessary support and data that KPMG needs, to contribute to the implementation and completion of this important project in the shortest possible time.
The value of the contract was not disclosed. It is also unclear if the NOC will start to implement more transparency in its contracting and procurement processes.
The issue of the transparency of how Libya’s oil revenues are spent is a controversial matter at the moment with the Tripoli Central Bank of Libya accusing the NOC of a lack of transparency with regards to the country’s oil revenues. The NOC has denied this.