The Chairman of the Libyan National Oil Corporation (NOC), Masoud Suleiman, reassured the heads of major global energy companies regarding the contracting mechanisms with the NOC.
Suleiman confirmed that contracts would be conducted according to the highest standards of transparency and under competitive contractual terms. He emphasized that the NOC understands and protects the rights of its partners, prioritizing their interests based on the principle of shared profit, according to a statement by the NOC.
This reassurance came during a series of meetings Suleiman held with the heads of several major oil and gas companies, including Shell, Schlumberger, Eni, Total, Halliburton, Ark Energy, Solar Turbines, and Repsol, as well as with the Turkish Minister of Energy and the U.S. Secretary of Energy.
The meetings took place on the sidelines of the African Energy Meeting during the CERAWeek Global Energy Conference, which concluded on Friday evening in Houston, Texas.
In a post on its Facebook page, the NOC stated that Suleiman discussed with these companies areas of mutual cooperation and how to achieve them with the NOC and its subsidiaries. The companies reportedly expressed strong interest in investing in Libya's energy sector.
Suleiman expressed his deep gratitude for the warm reception and acceptance the NOC delegation received at the prestigious CERAWeek conference, as well as the valuable opportunities provided to engage alongside major energy companies and institutions worldwide.
He also reaffirmed the NOC’s willingness to expand its base of strategic partners by inviting them to invest in Libya and to compete for one of the 22 opportunities announced by the NOC in its recent public exploration bidding round.
