By Sami Zaptia.
London, 11 September 2020:
Libya’s National Oil Corporation (NOC) Chairman Mustafa Sanalla yesterday set out ‘‘the enormous opportunities’’ which Libya offers to internationally competitive UK companies in its oil and gas sector.
Projects worth ‘‘many billions of dollars’’ could be issued over ‘‘the coming years’’ if the current ‘‘oil blockade can be lifted’’ and ‘‘a stable Libyan government established’’, he stated.
Sanalla was addressing the Libyan British Business Council (LBBC) in a webinar that lasted for over two hours. The webinar involved most of the NOC board members.
Besides oil and gas investment opportunities in the billions, the members-only webinar detailed potential training business in the tens of millions.
However, Sanalla warned that UK companies could only benefit from a stable, rule-of-law environment in the Libyan economy if the international community helped Libyan leaders to create it. In this regard, he said the UK had a crucial role to play, not just in reaffirming principles and publicly expressing support, but in actively pressing for solutions and countering those countries which wanted to control Libya for their own ends.
“We know that UK companies will win highly profitable business in the oil and gas sector in Libya if there is a level playing field. But not all of the countries involved in Libyan affairs at this point want to see a level playing field. The UK Government needs to take an active role in ensuring the current oil blockade is lifted. It needs to play its part in creating a fair and just Libyan society based on the rule of law – if British companies are to thrive in the Libyan market.”
