By Sami Zaptia.
London, 10 June 2021:
Speaking at the Libya Investment Forum 2021 yesterday, National Oil Corporation (NOC) chairman Mustafa Sanalla talked of launching new projects to advance the Libyan oil sector, the renewal of out of service oil fields, getting the best benefit from renewable energies and the need for foreign investors.
The event was organized by the Libyan British Business Council (LBBC) and the Petroleum Economist.
Production fell due to conflict
Participating virtually from the NOC headquarters in Tripoli, Sanalla explained that the Libyan oil and gas sector has faced many setbacks in the last few years due to armed conflicts and disorder. This had led to the closure of many oil and gas fields and export terminals and resulted in an extreme reduction of daily production for prolonged periods of time.