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British Business Urged to Seek Opportunities in Libyan Oil & Gas Sector

Source: www.gulfoilandgas.com 9/10/2020, Location: Africa

Libya’s National Oil Corporation (NOC) Chairman Eng. Mustafa Sanalla today 10 September 2020 set out the enormous opportunities which Libya offers to internationally competitive UK companies in its oil and gas sector. Projects worth many billions of dollars could be issued over the coming years if the current oil blockade can be lifted and a stable Libyan government established, he stated. The Chairman was addressing the influential Libyan British Business Council in London.

Yet, Chairman Sanalla also warned that UK companies could only benefit from a stable, rule-of-law environment in the Libyan economy if the international community helped Libyan leaders to create it. And in this effort, the UK had a crucial role to play, not just in reaffirming principles and publicly expressing support, but in actively pressing for solutions and countering those countries which wanted to control Libya for their own ends.

“We know that UK companies will win highly profitable business in the oil and gas sector in Libya if there is a level playing field. But not all of the countries involved in Libyan affairs at this point want to see a level playing field. The UK Government needs to take an active role in ensuring the current oil blockade is lifted. It needs to play its part in creating a fair and just Libyan society based on the rule of law if British companies are to thrive in the Libyan market.”

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