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The NOC said in a statement that after the forum, which was held under the slogan “Towards sustainable development and increasing production,” a working group was formed with three members representing private sector companies in the western, eastern, and southern regions.
The National Oil Corporation (NOC) of Libya has announced several recommendations concluded in the Strategic Partnership Forum for Oil and Gas, which was held on Saturday, including establishing an energy bank and settling the debts accumulated by private companies over the past years.
The NOC said in a statement that after the forum, which was held under the slogan “Towards sustainable development and increasing production,” a working group was formed with three members representing private sector companies in the western, eastern, and southern regions.
This group is responsible for communicating with the NOC, to follow up on the results and recommendations of the forum and the mechanisms for their implementation to enhance the role of the private sector in the oil field
The forum’s recommendations included: the importance of building a strong and sustainable private sector to support the Libyan economy, adopting policies that support partnership and pave the way for increasing production and achieving sustainable development, and working to establish an energy banking sector to support companies operating in the field of oil and gas and facilitate their financial transactions.
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The recommendations focused on the need to expedite the activation of the communication team that was selected during the closing session of the forum, to follow up on the implementation of the recommendations, and to establish a permanent mechanism for communication between the institution and the private sector, while maintaining the organization of such a forum periodically, to evaluate progress and discuss emerging challenges.
