NOC’s five-year strategy of 56 major projects include drilling 108 test and development wells: Sanalla
By Sami Zaptia.
London, 13 May 2019:
The Tripoli assault and ongoing hostilities are a direct threat to Libyan oil sector development and procurement, Libya’s National Oil Corporation (NOC) chairman, Mustafa Sanalla said in Houston last week.
Sanalla underlined the risk protracted conflict poses to Libya’s US$ 60 billion procurement opportunity for US oilfield service companies at the US MENA Country Dialogue Series, hosted on the sidelines of the Offshore Technology Conference (OTC) in Houston.
Delivering a keynote address at the forum hosted by the Bilateral US-Arab Chamber of Commerce, Sanalla highlighted the opportunity for US companies in delivering cutting-edge technology, equipment and services to advance Libya’s production ambition of 1.4 million barrels per day (bpd) from existing fields by the end of 2019, and 2.1 million bpd by 2023.
“To deliver on NOC’s five-year strategy, the corporation is executing a total of 56 major projects, including the drilling of 38 test wells and 70 development wells. The corporation wants to invest in the development of existing fields, gas utilization, and rehabilitate shut-in wells. We can’t do this alone and are looking for expertise from US suppliers, vendors, and service companies,” said Sanalla.
“Let’s be clear however: none of this can happen while we are at war. If the international community can implement a ceasefire and return parties to the political process, we can quickly implement this important programme of work,” said the Chairman.
Sanalla addressed delegates calling for solidarity from partners and the international community to help NOC deliver on its mandate as the sole administrator of Libyan hydrocarbon resources – both to the global market, and the Libyan people.