Libya’s Minister of Oil and Gas, Mohamed Aoun, led a delegation to the 8th OPEC International Seminar in Vienna from 5-6 July 2023.
According to Aoun’s Media Advisor, Ahmed Al-Tarhouni, the Minister and his accompanying delegation participated in the discussion of issues and axes of concern to all member states of the organization, especially the strategies and visions of the participating countries, investments and financing in the oil and gas industry, in addition to the development and growth of the oil industry in African countries, the issue of the energy transition, as well as the issue of environmental protection and climate change.
Libya to increase oil production to 2 million bpd in less than two years
Al-Tarhouni referred to the minister’s talk about the ministry’s vision and strategy for the future of the oil and gas sector in Libya and increasing oil and gas production and exports through supporting the National Oil Corporation’s plan aimed at increasing Libyan oil production to a ceiling of 2 million barrels per day in less than two years.
Adding that the minister stressed Libya’s ability with foreign partners who work for Libyan oil companies in the various oil sites to increase this, especially with the possession of local human cadres of engineers and technicians to improve the level of production with the available capabilities, as well as with the financial support provided by the government under the supervision of the Ministry of Oil and Gas.
Libya’s role in OPEC
Al-Tarhouni stressed the leading and prominent role of Libya within the OPEC for many years and the importance of continuing this role as it can mean achieving consensus among all oil-exporting member states. The interests of these states include full cooperation through a common strategic vision for the energy sector in general in the world and the energy sector in a way that achieves the economic interests of all member states.
Libya has the fifth largest shale gas reserves
The Minister and his accompanying delegation also held many bilateral meetings with some oil ministers and international oil personalities, during which he shed light on the prospects of oil and shale gas. According to preliminary estimates, Libya has the fifth largest reserves, and this needs studies and confirmation. Therefore, the Ministry has formed a joint team from many parties. Related.
OMV invited to increase its Libyan investment
Al-Tarhouni noted that the Minister of Oil and his accompanying delegation held meetings with several oil companies, including a meeting with Austrian company OMV, where the minister explained to the Austrian side that he had asked the National Oil Corporation to submit bids to explore areas that had not yet been explored on land and sea. On the other hand, the company confirmed its desire to expand its contributions and investment in Libya, specifically in gas production.
The Minister of Oil also met with the Nigerian Minister of Energy, Gabriel Adud, and the Executive Director of the Nigerian Petroleum Corporation, Milli Kyari, where they discussed the possibility of benefiting from Nigeria’s potential and its transformation towards oil refining, and the possibility of transporting gas from Nigeria to Europe through Libyan territory, as well as benefiting from possibilities of service companies in the two countries.