The Tripoli based Libyan Ministry of Industry and Minerals’ Committee for the Localisation of Oil Field Equipment (CLOFE) has invited all local and international investors interested in the field of precision manufacturing of mechanical parts, to seize the opportunity and actively participate in the localisation of the oil sector materials and equipment industry.
The call came last Wednesday (15 October) after the Minister of Industry and Minerals, Ahmed Abuhisa, received on the same day at the Ministry’s Tripoli headquarters, the Head of the Military Industrialisation Authority, Brigadier General Mahmoud Al-Gutaiwi and his accompanying delegation.
The meeting also included representatives of private oil sector companies and several (unnamed) ‘‘international agency owners’’ from various regions of eastern, southern and western Libya, in the presence of Houssein El-Shtewi, the Chairman of CLOFE and the Technical Advisor to the Minister.
The policy initiative, the Ministry says, comes as part of the wider national efforts to save foreign exchange and enhance local content and achieve self-sufficiency in vital and strategic industries.
The oil and gas sector, CLOFE explained, is one of the most important drivers of the Libyan economy and is currently witnessing a broad trend towards enabling local manufacturers to enter supply chains and provide high-quality technical and engineering solutions. Precision manufacturing is one of the key pillars in supporting the industry, with advanced technologies and specialized technical expertise.
CLOFE said it invites all interested local and international parties to take advantage of the investment incentives and technical and logistical support available through localisation programmes and join this ambitious trend towards building an advanced and sustainable industrial base that meets the needs of the oil sector and keeps pace with international standards.
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