The Chargé d'Affairs of the German embassy to Libya, Sven Crosby, offered his country's assistance in reactivating some of the closed factories in Libya, and providing a safe environment for companies wishing to work in those factories. He also expressed Berlin's interest in projects in the field of oil and gas to develop Libya's ability to supply Europe with energy.
Crosby's remarks came during his meeting with the Minister of Oil and Gas, Mohammed Oun, who noted that the German “Wintershall” company was one of the first firms to sign concession contracts at the end of the 1950s and succeeded in producing oil in the 1970s in Libya after making major discoveries in the Sirte Basin, according to a statement by the Ministry on Sunday.
Oun said that there were various resources other than oil and gas in Libya that could be up for investment, referring to areas where large quantities of oil and gas are expected to be found. He said Libya is also considered fifth in the world in shale oil and gas reserves, according to a study from the US Energy Agency in 2015.
"Investing in it will double Libyan oil and gas production if it is invested with political and security stability in the country for the return of companies. There is cooperation between the Oil Ministry and the Ministry of Industry and Minerals to localize the industry of petroleum materials and equipment with the participation of local investors as well as international companies. It is an invitation for German companies to attend economic meetings in this field." Oun added.