The Minister of Oil and Gas of the Government of National Unity, Khalifa Abdul-Sadiq, has urged major companies to apply and invest safely in Libya's oil sector.
In a speech at the Natural Resources Summit in Istanbul, Abdul-Sadiq called on major oil companies to transfer modern technology to Libya to increase production rates and replace the produced oil and gas from the reserves
He also called on them to work on increasing refining capacity with the aim of achieving self-sufficiency in fuels and petroleum products, and to invest in renewable energy to contribute to electricity generation, thus providing greater quantities of gas for export to the global market.
During the panel discussion, moderated by the Turkish Minister of Energy and attended by a number of energy and natural resources ministers, the minister discussed investment opportunities in Libya, the goals of the ministry and the National Oil Corporation (NOC) to increase production capacity and expand exploration activity to support reserves, the progress of the public bidding round launched by the NOC in early March, and the promotional tours held in Houston and London, the most recent of which was in Istanbul.
