Hyundai enthusiastic to return to work in the Libyan oil sector
By Sami Zaptia.
London, 20 April 2021:
Libya’s state National Oil Corporation (NOC) reported today that Hyundai Engineering and Construction is ‘‘enthusiastic to return to work in the Libyan oil sector’’.
The report came after NOC chairman Mustafa Sanalla met yesterday at the NOC ‘s Tripoli headquarters with the Vice President of the Global Marketing Department of Hyundai Engineering and Construction, Joe Sangoon.
During the meeting the NOC reported that Jo Sangoon gave a brief overview of the company’s activities and future plans, and its intention to implement projects in the African region, explaining that the reason for his visit yesterday to the NOC is the enthusiasm of Hyundai to return to work in the Libyan oil sector, as it had previously implemented a number of successful projects in Libya, most notably its contribution to the West Libya Gas Project (Mellitah Industrial Complex) in a consortium with the former Italian company, Snamprogetti.
For his part, Sanalla, gave an overview of the Libyan oil sector, explaining that it is a promising sector, and that NOC has major projects in the development of the oil and gas industry, especially after the stability of the situation in Libya, and the return of production rates to a very good levels. He also indicated that the opportunity is now appropriate for the return of large international companies to Libya to invest again and participate in the development. He also encouraged Hyundai for seizing this opportunity to return to Libya, to participate in the infrastructure projects and rehabilitation of the damaged facilities which were exposed to previous wars and closures.
Sanalla also confirmed that Hyundai has the opportunity to participate in the rehabilitating of the Libyan oil sector as well as contributing to many other projects that the NOC is planning to implement.
At the end of the meeting, it was agreed to continue communication and continuous coordination between Hyundai and the NOC.