The National Oil Corporation (NOC) announced the successful drilling of a new oil well by Mellitah Oil and Gas Company in the El Feel (Elephant) Field. The well boasts a production capacity of 5,056 barrels per day.
The Chairman and members of the NOC’s Board of Directors praised the Operator Management Committee and all Mellitah Oil and Gas employees who contributed to this achievement.
On Tuesday, the Libyan Ministry of Oil and Gas in the Government of National Unity (GNU) announced that Minister Mohamed Aoun has resumed his duties at the ministry.
According to a statement on the ministry’s Facebook page, this follows the completion of investigations by the Administrative Control Authority. Decision No. 492 of 2024 lifted the precautionary suspension and informed the government accordingly.
The Administrative Control Authority had previously issued Decision No. 347 of 2024, which suspended Aoun for investigation purposes.
The authority explained that the suspension was in the public interest and was based on a memorandum from the Director of the General Administration for Investigation. The investigation related to case number 178, which revealed legal violations.
Prime Minister Abdul Hamid Dbeibeh had issued a decision assigning Deputy Minister of Oil and Gas Khalifa Rabea Abdul Sadek to manage the ministry’s affairs during Aoun’s suspension.
Last month, Aoun denied reports alleging that he is under house arrest in Tripoli by armed militias loyal to Prime Minister Abdelhamid Dbaiba. Aoun confirmed in a telephone interview with “Asharq Al-Awsat” that he is at his home in Tripoli and not subjected to any security surveillance or harassment.
He mentioned that his statements were taken during an investigation conducted by a member of the Administrative Control Authority. Aoun clarified that his suspension crisis would soon come to an end, but he did not specify an official date.
In March, Prime Minister Abdel-Hamid Dbaiba assigned Khalifa Abdulsadek, the Deputy Minister of Oil, to carry out the ministry’s duties after the Administrative Control Authority announced the suspension of Aoun. This was due to accusations of “violations” resulting in the infringement of Libya’s rights through the concession of oil privileges to foreign companies.
Libya has garnered $6 billion in oil revenues in the first quarter of the year and anticipates an average revenue of $25 billion for the entirety of 2024, according to Suhail Boushiha, the Deputy Minister of Economy and Trade. Boushiha shared these insights in an exclusive interview with Sky News Arabia on the sidelines of the annual meetings of the IMF and World Bank in Washington.
The Libyan economy, heavily reliant on oil revenues, recorded LYD 99.1 billion ($20.69 billion) in the previous year, down slightly from LYD 105.4 billion in 2022, as per data from the Central Bank of Libya.
