NOC Libya Priorities and Visions Presented

In an exclusive interview with CWC Group ahead of the 2nd Libya Forum taking place 16 – 18 September 2013 in Tripoli, NOC Libya Chairman Dr Nurri Berruein set out the organisations priorities for the next year and vision for the medium to long term.

He said: “[Over the next year] our priorities are securing the field operations, the return of the service companies, and maintaining oil and gas production at the normal rates. We are also prioritizing the review of the 1955 Libyan Petroleum Law and the existing EPSA 4 contract model. And finally we are undertaking an assessment of the country’s existing and yet-to-find conventional and unconventional resources.”

Of the much anticipated Petroleum Law Review, Dr Nurri said: “The Committee is still working and expected to publish their findings soon.” He added that in the new licensing round “companies can expect attractive commercial fiscal terms founded on the basis of mutual interest, win-win relationships and maximizing partnership values.”

NOC Libya is hosting the high level 2nd Libya Forum taking place in September in Tripoli. Executives seeking to meet with Dr Nurri and other senior NOC officials, to understand about the potential for their company in Libya can still register for the event. Dr Nurri said that “NOC is open to meeting all interested IOC and service companies.”

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Press Release, September 02, 2013