A meeting was held on Sunday 13th June at NOC premises in Tripoli between NOC Chairman Mr. Mustafa Sanaalla and the Minister of Economy and Commerce in the Government of National Unity, Mr. Muhammad Al-Hawej. The meeting was attended by NOC General Manager of Legal Affairs, NOC Member of the Board Mr. Alammary Muhammad, NOC General Manager of Oil industries, as well as the Director of the General Authority for Investment Promotion and Privatization Affairs at the Ministry of Economy and Commerce, in addition to a number of specialists of NOC and the Ministry of Economy and Commerce.
The meeting discussed the enhancement of cooperation between the Ministry of Economy and Commerce and NOC in various fields to develop manufacturing in order to increase production; to construct oil refineries; to enable the private sector companies enter the oil sector for oil and gas investments and to contribute in social responsibility projects through the Department of Sustainable Development and the Investment and Privatization Affairs Authority of the Ministry in various Libyan regions, in coordination with the relevant ministries such as the Ministry of Labor and others.
The meeting also discussed the development of young national cadres through programs for sponsoring pioneers and innovators, and to contribute in supporting small and medium projects in the Tamanhant region, the southern regions and oases, and many other regions. Studying legislations and agreements relating to investments in the local and foreign sectors and the introduction of beneficial and encouraging adjustments to the economy.
NOC Chairman emphasized the need to invest in the field of oil production and exploration and to exert more efforts, to encourage economically feasible investments with major international companies and to amend partnership laws to encourage them enter the promising Libyan oil market.
NOC Chairman also pointed out that NOC has ambitious plans to expand the development of the oil sector which includes the construction of an oil refinery in Tobruk and the southern region, to upgrade the Zawia refinery and the fertilizer and methanol plants located at Marsa El Brega.
The Minister of Economy, Dr. Muhammad Al-Hawej, praised the role of NOC in maintaining the cohesion and unity of the oil sector, and the exceptional efforts made by the oil sector workers in maintaining the sustainability of production and bringing it to the current levels to support the national economy. He also appreciated NOC’s support to all public and the private sectors in Libya and providing a helping hand despite what everyone knows about the difficult circumstances and challenges that the oil sector has faced over the past years, and the most prominent of these challenges are the scarcity of budgets needed to run the oil sector’s business and operations as it is the backbone of Libyan economy. He emphasized the need to support NOC at all levels and provide it with the necessary budgets to enable it perform its role, being the only source of income in the country.
