The National Oil Corporation (NOC) organized a workshop in Tripoli today entitled “Towards a Strategic Partnership with Investors to Develop the Oil Industry.”
Adding value to the national economy
The workshop aimed to explore avenues for cooperation with the private sector and review available investment opportunities that contribute to enhancing the sector’s efficiency and adding value to the national economy.
Establishing effective strategic partnerships with investors
In his opening remarks, NOC Chairman, Masoud Suleiman, emphasized that partnership with the private sector is a fundamental pillar for developing the oil industry. He noted that the NOC fully supports establishing effective strategic partnerships with investors, which will contribute to improving operational performance and modernizing the sector’s infrastructure and industrial facilities.
The workshop was organized in cooperation with the Privatization and Investment Board (PIB), and with the participation of Zallaf Libya and Zawiya Oil Refining Company. The event was attended by a high-level delegation including the Minister of Economy and Trade, representatives from the PIB, as well as several officials, experts, and investors interested in the energy sector.
Creating a stimulating legislative and technical environment
The sessions included an extensive panel discussion that reviewed the challenges facing investment in the sector and proposed solutions and suggestions to overcome obstacles for investors. Emphasis was placed on the importance of creating a stimulating legislative and technical environment that supports the state’s drive towards localizing and developing the oil industry.
Opening new horizons for local and international investment
The NOC said that through this initiative, it seeks to open new horizons for local and international investment, in line with its strategic plans to develop the oil and gas sector in Libya and strengthen cooperation with relevant stakeholders to ensure sustainable economic growth.
