By Sami Zaptia.
London, 23 September 2021:
Mustafa Sanalla, Chairman of the Libyan state National Oil Corporation (NOC), officially opened Murzuq Oil Services Limited, in London, on Monday.
Murzuq Oil Services Ltd (MOSL) is a business services company incorporated in the UK by the NOC. The NOC said Its prime focus is to create value for petroleum and natural gas extraction businesses by providing support to enable them to improve their business processes and corporate performance.
It reported that MOSLs services will include consultancy, market research and studies, and business services,
Strategic planning, business development, engineering and technical staff and support services will be supplied by its Consultancy Services Division. The provision of market intelligence will be undertaken by its Market Research and Studies domain and the company will also offer value for the NOC supply chain.
The NOC said MOSL will add value for the NOC and its affiliates by collaborating with UK companies, including leading international engineering, procurement and construction contractors, to deliver projects across the whole project lifecycle in Libya and ultimately globally.
It added that it has ambitious targets of expanding its oil production capacity beyond 2m bopd and MOSL will assist it in this aim. MOSL will act as the overseas arm of the NOC choosing London as its base.
The NOC said the London location will provide MOSL with a hub for UK talent in engineering and consultancy, and the excellent technologies which will support NOC and MOSL in meeting its growth plans. MOSL will also support the NOC and its affiliates in providing training and development for their personnel.
During the London visit the NOC reported that Sanalla met Lord Grimstone, Minister for Investment at the Department for International Trade and the Department for Business, Energy & Industrial Strategy. They discussed MOSLs and the NOCs plans for the development of Libyan onshore and offshore oil and gas facilities and future plans for renewable energies, focusing closely on meeting carbon reduction targets.
Sanalla said “We are very proud to launch MOSL to assist NOC and our affiliates in meeting our strategic objectives. We see MOSL as an excellent opportunity to collaborate with UK companies in providing us with robust solutions to future proof our business. We are also grateful to the Libyan British Business Council (LBBC) for its on-going support in driving our businesses forward.”