NOC Plans Fuel Depot & Floating Port Projects in Libya

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On Thursday, Libya’s National Oil Corporation (NOC) announced that plans are underway to establish a depot for fuel and cooking gas cylinders in Al-Khums city, in addition to a floating port in Tobruk.

This came during a meeting of the General Assembly of the Brega Petroleum Marketing Company, headed by the Chairman of the NOC, Mustafa Sanalla.

The head of NOC stated that the Taknia Libya Engineering Company (TLEC) has drawn up environmental studies for establishing the depot, which will be of high importance for Greater Tripoli. The depot will help meet the needs of the western region in the event of any emergency.

The NOC head added that the project could be implemented in two ways; either by direct financing from the public treasury or by leasing storage capacities. The latter proposal was discussed with a group of businessmen from Zliten, who are reportedly ready to start the project as soon as possible.

As for the floating port in Tobruk, the Brega Company’s management committee submitted a proposal to Sanalla. The matter is set to be discussed in the general assembly meeting with the Arabian Gulf Oil Company (AGOCO) in the coming days.

“The oil sectors infrastructure has reached a situation where it is not possible to continue regular operations due to a large number of leaks and the deterioration of surface facilities,” the NOC head said.

He added that this is due to the illegal closures in the past years, as well as the absence of approved budgets for the sector. “The revenues of the public treasury will be negatively affected, and all this is a result of the failure of decision-making bodies to liquidate approved budgets for the second year in a row,” he claimed.