Tripoli: The Chairman of the Board of Directors of the National Oil Corporation (NOC), Masoud Suleiman, has reiterated the strategic importance of investing in the development of Libya's gas industry. He outlined the NOC's commitment to intensifying investments to establish vital projects aimed at meeting local energy demands and exporting any surplus to international markets.
According to Libyan News Agency, Suleiman emphasized the necessity of forming partnerships with international companies to boost both onshore and offshore exploration activities and convert resources into proven reserves. This strategy is aimed at fostering an attractive investment environment, facilitating the transfer of expertise, and opening new opportunities for Libya's private sector and workforce.
Suleiman also highlighted NOC's dedication to international emissions reduction agreements, noting progress in reducing gas flaring through operational efforts. He reaffirmed the corporation's collaboration with international partners to achieve near-zero gas flaring, which aligns with national interests and mutual benefits.
The second edition of the technical workshop, focused on the "National Oil Corporation's Strategic Vision for Natural Gas Development Projects in Libya," was organized following the success and recommendations from the first edition. The workshop aims to review and manage Libya's gas reserves, estimated at approximately 53 trillion cubic feet.
The event, held at the Corinthia Hotel in Tripoli, saw participation from the Minister of Oil and Gas, Dr. Khalifa Abdul Sadiq, members of the NOC Board of Directors, chairmen of oil company boards, representatives from international companies, directors of relevant NOC departments, and a group of international experts.