The Libyan Council for Oil, Gas and Renewable Energy (LCOGRE) organised on Monday a workshop entitled ‘‘Partnership between the Private and Public Sectors in Establishing and Investing in Early Oil Production Facilities (EPF)’’.
The workshop was held in cooperation with the National Oil Corporation (NOC) and the National Economic and Social Development Board (NESDB) and the sponsorship of Sirte Oil and Gas Production Company and the Libyan Islamic Bank.
It was attended by a member of the Board of Directors of the National Oil Corporation, Hussein Safar, the Chairman of the Libyan Council for Oil, Gas and Renewable Energy (LCOGRE), Khaled Ben Othman, the Director General of the National Economic and Social Development Board (NESDB), Mahmoud Al-Futaisi, the Undersecretary of the Ministry of Higher Education and Scientific Research, and several specialists, interested parties, owners of private oil companies. and representatives of Schlumberger and Mellitah Oil and Gas.
Strategic importance of involving private sector in EPF
Commenting on the workshop, its importance and its recommendations, the head of the Libyan Council for Oil, Gas and Renewable Energy (LCOGRE), Khaled Ben Othman, said that there is a strategic importance behind holding a specialized workshop on involving the local private sector in establishing and investing in early oil production facilities. This, he added, is especially after the private sector has proven its ability in the field of logistics services, oil well drilling, handling and supply, in partnership with local and international oil companies.
PPP in EPF to help NOC increase oil production
Ben Othman stressed that the workshop aims to help the National Oil Corporation (NOC) and its companies to increase production and to enhance its ability to continue implementing its plan to raise Libya’s production to 2 million barrels per day. Additionally, the Libyan private sector can help the oil sector use the latest oil technologies due to its flexibility. Private sector companies, he stressed, are formed of national cadres and support them with highly qualified foreign expertise.
Marginal fields of 30,000 barrels annually
The local private sector, Ben Othman stressed, is able to compete in establishing and investing in early production facilities, by participating in the development of discovered undeveloped marginal fields (aged/depleted fields), or the so-called non-major marginal fields, which are small fields in which the presence of oil has been discovered and in production, but their production does not exceed 30,000 barrels annually.