Tripoli based Libyan prime minister, Abd Alhamid Aldabaiba, has formed a technical committee to examine the controversial NC7 Hamada oil exploration and production deal. Decree No. 27/2024 was dated 15 January,
The contract to develop NC7 with a foreign consortium was stopped by the Attorney General’s Office based on a report from the Minister of Oil and Gas. Investigations in the contract are continuing.
The 13-person technical committee is chaired by the Deputy Oil Minister and includes officials from the Audit Bureau (2), the Administrative Control Authority, the NOC (2), experts (3), members of the House of Representatives (2) and members of the High State Council (2).
The decree says the committee will review the terms of the NC7 agreement to ‘‘ensure the rights of the Libyan state and properly implement its provisions on time.’’
The decree says the committee will also ‘‘study the possibility of implementing the work (NC7) hrough (Libya’s NOC/state owned) Arabian Gulf Oil Company (AGOCO) and the possibility of financing it (NC7 development) locally through Libyan financial and economic institutions’’.
The committee must submit its report within 15 days from the date of the decree (30 January 2024.
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