The head of the private sector pressure and lobby group, the Libyan Council for Oil, Gas and Renewable Energies (LCOGRE), Khaled Ben Othman, said in an exclusive statement to Libya Herald that work is underway to organize the third workshop on PPP investment in early production facilities in the Libyan oil sector under the auspices of the National Oil Corporation (NOC) from 20 to 21 November 21 at Corinthia Hotel, Tripoli.
State, foreign and local private sector companies to collaborate
Ben Othman stressed that the workshop aims to bring together private sector companies, oil companies owned wholly or partly by the state, major foreign companies operating in the Libyan oil sector through exploration, production and sharing agreements (EPSA), as well as various oil services companies.
To accelerate PPP
The aim is for these collaborations to increase the services of the oil sector by introducing the capabilities of the sector’s local private companies, their good experience, qualified human capabilities and their sector activities to learn about oil projects and future plans of oil companies so that they can better offer their services, which accelerates the formation of partnerships between public and private sector companies.
Implementing recommendations of previous workshops
The head of the LCOGRE stressed the necessity of implementing the recommendations of the previous workshops (workshops 1 and 2), which were sponsored by the Privatization and Investment Board (PIB), with the participation of several government and private agencies. Those recommendations focused on enabling private sector companies to enter the labour market in the oil fields by activating the related issued decisions, strengthening the government’s principle of implementing bids, raising the administrative and technical capabilities of private sector companies so that oil company projects can be implemented professionally to enable them to compete with foreign and international companies.
Workshop to help NOC achieve production target of 2 million bpd by 2025
Ben Othman pointed out that this workshop is crucial in forming actual partnerships between public and private sector companies in the field of investment in early production facilities and other oil sector projects to achieve the National Oil Corporation’s plan to develop and increase production to a ceiling of 2 million barrels per day by 2025.
Several international companies seeking local partners to enter the Libyan oil sector
Finally, Ben Othman revealed that there is a desire from several foreign companies from Canada, the USA, Britain, France, and other companies from the Gulf countries, seeking to establish partnerships and participate in oil projects with the Libyan private sector. These companies, he added, will be present in the workshop to ensure the ability of local private oil companies to compete to the highest level with major companies with a long history in the global oil sector.