The Tripoli based Libyan Minister of Oil and Gas, Mohamed Aoun, received at his Tripoli headquarters on Sunday Sven Krauspe, the German Chargé d’Affaires, Deputy Head of the Mission in Libya. The meeting was attended by the Ministry’s Director General of Technical Affairs and the Technical Advisor.
Stability creates a better investment climate
In an exclusive interview with Libya Herald, the Director of the Media Office at the Ministry of Oil and Gas, Ahmed Al-Tarhouni, said that Minister Aoun presented an overview of the history of oil in Libya and referred to the history of Libyan-German relations in the field of oil and in other areas of economic activities. Aoun stressed that Germany should have a role in the stability of Libya, because this is in everyone’s interest, creates a better investment climate, and leads to greater growth in relations between the two countries.
Wintershall one of the first concessions in Libya
Al-Tarhouni pointed out that the Minister of Oil and Gas stressed that German company Wintershall DEA was one of the first companies to sign concession contracts at the end of the fifties after the issuance of Oil Law No. 25 of 1955 in Libya, and it succeeded more in oil production in the seventies after developing major discoveries in Sirte Basin.
Several explored and unexplored Libyan hydrocarbon sites
Al-Tarhouni said that the Minister mentioned the existence of various Libyan wealth and resources other than oil and gas that can be invested in, in addition to large sites on land and sea that have not yet been explored, and explored sites that are expected to contain large quantities of oil and gas on land and sea. This, he continued, is in addition to Libya being considered fifth in the world in shale oil and gas reserves, according to a study by the US Energy Agency in 2015, where investment in these reserves would double Libyan production – subject to political and security stability in the country that enables the return of investing companies.
Localising industry for the hydrocarbon sector
Regarding the national project to localise industries, Al-Tarhouni said that the minister noted the existence of cooperation between his ministry and the Ministry of Industry and Minerals to localise the industry of petroleum materials and equipment with the participation of local investors and international companies, calling on German companies to attend and participate in meetings between business partners for cooperation and investment by German businessmen in this industrial project.
Al-Tarhouni reported that the German Chargé d’Affaires thanked the Ministry of Oil and its efforts to develop the sector and build strong relationships and effective partnerships with Libya’s partners in the oil and gas sector. He promised that he would convey the minister’s remarks to his country’s government, which had previously contributed to the stability of Libya through the Berlin 1 and 2 conferences. He expressed his interest in the proposed projects, especially in the field of oil and gas, to develop the production capacity of oil and gas to supply Europe with what it needs in light of global conditions. He also promised Germany’s participation in reviving the activity of some of the stopped factories in Libya while providing a safe climate for companies wishing to work in Libya.