The National Oil Corporation (NOC) convened part of its annual General Assembly meetings in the southern city of Sebha for the first time on Thursday, marking a strategic move to decentralize the nation's vital oil sector.
Discussions focused on the 2024 achievements and 2025 plans of Akakus Oil Operations, Zallaf Libya Oil & Gas, and the Sebha Institute of Oil Technology, including budget allocations to support upcoming projects.
The meetings were chaired by Acting NOC Chairman Masoud Suleiman, alongside board members and key executives from Akakus, Zallaf, and the institute. Suleiman underscored that the relocation of such meetings aligns with government directives to shift oil company operations to the south, a move expected to bolster local economic development.
Akakus Oil Operations reported production exceeding forecasts, reaching 303,000 barrels per day by the end of 2024. Meanwhile, Zallaf Libya Oil & Gas announced progress in discussions with contractors to install processing units at the South Refinery Project, targeting a production increase to 17,000 barrels per day by year-end.
Suleiman emphasized the strategic significance of the South Refinery Project, citing its potential to transform the region’s economic landscape. He reaffirmed NOC’s full commitment to supporting the initiative.
In parallel meetings at the Sebha Institute of Oil Technology, NOC executives stressed the importance of health and safety programs for trainees, positioning the institute as a key technical hub for grooming future oil sector talent. The board urged closer collaboration with local and international institutes, prioritizing quality training and adopting English as the primary language of instruction.
Suleiman closed the session by instructing company heads to prioritize safety over production growth, while calling for greater investment in youth to ensure sustainable leadership in Libya’s oil sector.
