The Libyan Council for Oil, Gas and Renewable Energy (LCOGRE) released its recommendations after its workshop entitled ‘‘Partnership between the Private and Public Sectors in Establishing and Investing in Early Oil Production Facilities (EPF)’’ held in Tripoli on 20 November.
The LCOGRE sent its recommendations to the Minister of Oil and Gas and the Chairman of the National Oil Corporation.
The seven recommendations were:
1-Activating the participation of the private investment sector in refineries and raising the storage capacities of fuel and petrochemical factories products by involving private and public financing institutions represented by banks to support these projects. This contributes to transferring knowledge and expertise, training Libyan cadres, and stimulating economic activity in general.
2-Adopting the classification of technical expertise for private sector companies based on the competence of their employees, and on the equipment and mechanisms they possess that (pre) qualify them to implement and complete the projects assigned to them, and not on the establishment age of their companies.
3-Working to strengthen the principle of governance in the implementation of bids in oil companies, which in turn contributes to consolidating the principle of transparency and disclosure, improving performance and successful investment.
4-Involving the private sector in enhancing radiation protection services and converting combusted methane gas and using it into petroleum energy sources, while reducing carbon emissions, which poses a major threat to workers and the environment in general.
5-Building effective partnerships between the public and private sectors in the field of renewable energies and developing technological poles/parks to contribute to Libya’s reconstruction programmes and taking steps towards progress and modern technology.
6-Establishing a working mechanism for cooperation and exchanging opinions between private sector companies and oil companies through a coordination and follow-up office whose members determine the mandate of its work and the relevant parties, represented by the Ministry of Oil and Gas, the National Oil Corporation, and the Libyan Council for Oil, Gas and Renewable Energies.
7-Activating the principle of partnership in the production of oil wells with small production capacity, using the EPF system, using the principle of sharing production shares or renting, or using the BOT system.