The 4th edition of New Libya Oil & Gas Forum kicked off in London on Monday. The forum is sponsored by several foreign private companies, which are endorsed by the National Oil Corporation NOC.
Chairman of NOC Mustafa Sunallah said the forum is an opportunity to exchange experiences and benefit from others’ experiences especially that the oil and gas sector had witnessed many difficulties over the past few years.
Sunallah added that this forum, which was attended by a large number of experts from more than 200 international companies, demonstrates the global interest in Libya and the desire to assist it in overcoming the difficulties in oil and gas fields.
"Libya has the largest oil reserves in Africa and that the oil wealth is the only source of income for Libyans, and so it should be preserved and maintained in order to contribute to the welfare and prosperity of Libya." He said.
He further confirmed that the oil sector works in a unified manner and the NOC works away from the political polarization in the country.
A number of Keynote presentations were delivered during the three-day forum. Participants discussed aspects of current and future E&P opportunities and activities onshore and offshore Libya, and how to raise Libya’s oil output and national income. Security risks in the oil sector were also addressed during the forum.
On the sidelines of the forum, NOC Chairman Sunallah held talks with directors of Total and BP Oil companies over their activities in Libya.