Libyan Oil Minister: Intention to Activate Agreements with International Companies on Hold

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The Libyan Minister of Oil and Gas of the Government of National Unity (GNU), Mohamed Aoun, stated that during the past years the terms of the agreements with most international oil companies have been amended. He pointed out that there is no intention yet for these companies to return to these unless requested.

This came in response to a citizen’s question on the HAKOMITNA regarding the possibility of conducting a study of previous agreements between Libya and foreign oil companies.

Notably, Aoun said that it may take Libya two to three years to export 2 million barrels oil per day as the country stabilizes. He explained that as soon as Libya emerged from conflict and the Government of National Unity (GNU) took over, things stabilized. This is when they started developing previous exploration projects and work commenced on the maintenance of working wells, surface equipment and pipelines.

The Minister added that “all these measures lead to the possibility of increasing production, but it needs financing, management and work companies, which need to ensure the safety of the country in all regions and the absence of security problems.”

He pointed out that appointments in the oil sector are part of a process that is subject to the assessments of those in charge of these sectors. He added that, “I advise all Libyans to look at Libya as a single unit.” The Minister noted that work in Libya is available to all Libyans, from any point in the country.