The National Oil Corporation (NOC) has unveiled plans to hold a forum for Libyan entrepreneurs investing in the oil and gas field next May.

The corporation made the announcement at a forum to support Libya's oil and gas sector in Istanbul on Friday.

The summit featured the participation of the Central Bank of Libya (CBL), the Audit Bureau, government officials, and several foreign and local companies operating in the oil and gas sector.

According to the NOC, the event will discuss aspects of cooperation and identify the entrepreneurs' role in supporting the National Oil Corporation.

The NOC presented during Istanbul's meeting its tripartite plan and its vision to increase oil and gas production.

They also discussed the support of the banking sector and financial institutions to the corporation's projects and the partnership between the Libyan private sector and foreign companies.

Chairman of the NOC, Farhat Bengadara, stressed the importance of the government institutions' role and reactivating the agreements with international companies.

He further reiterated the need to address all the difficulties hindering the corporation's development.

For his part, the CBL Governor, Seddek Elkaber, affirmed the bank's keenness to support the oil and gas sector and praised the NOC's efforts to increase production.

He underscored the need to continue the disclosure, transparency, and governance program in all expenditures related to the oil sector.