Monday, September 8, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

Libyan Parliament Opposes Foreign Partnerships for Al-Hammada Field

October 31, 2024
Libyan Parliament Opposes Foreign Partnerships for Al-Hammada Field
Share on FacebookShare on Twitter

The Energy Committee of Libya’s House of Representatives has urged the National Oil Corporation (NOC) Chairman, Farhat Bengdara, to cease negotiations concerning the NC7 Al-Hammada oil field.

In a letter dated October 30, 2024, the committee highlighted the need to safeguard Libya’s sovereign resources amidst challenging security and political conditions, cautioning that these circumstances place Libya in a weak bargaining position with foreign partners, making its resources vulnerable to political bargaining.

The committee referenced the 2024 public budget law, which allocates funds for the field’s development through NOC-affiliated companies, as well as past resolutions barring any handling of national resources until a newly elected government is in place.

Additionally, they cited House of Representatives’ Resolutions No. 15 of 2023 and No. 10 of 2021, which involved the withdrawal of confidence from the Government of National Unity. The committee declared the Energy Council, formed by the interim government, as illegitimate, asserting the need to reassess any ongoing agreements on the field.

In recent months, the NOC’s pursuit of a development deal for the Al-Hammada field with a coalition of foreign companies—Italy’s Eni, France’s Total, UAE’s ADNOC, and Turkey’s energy company—sparked local controversy. This led the interim government to pause the agreement, though discussions have since resumed.

Al-Hammada, an aging oil field located in Libya’s Al-Hammada Al-Hamra region, is managed by the Arabian Gulf Oil Company, a subsidiary of the NOC.

According to the Economic Development Council, the Al-Hamada field holds an estimated two trillion cubic feet of confirmed gas reserves, while Libya’s overall natural gas reserves are approximately 55 trillion cubic feet.

Tags: Al-Hammada Oil Fieldlibyanocparliament
Next Post
Will Undocumented Foreign Workers Be Deported From Libya?

Will Undocumented Foreign Workers Be Deported From Libya?

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Libyan Attorney General Reveals Major Corruption Case in Tripoli

Heavy Military Presence Fuels Libyan Capital’s Fears

Libya Launches $2 Billion Project to Transform Desert Into Regional Trade Corridor

Libya Among Top Arab Suppliers as US Crude Imports Rise

ITA Airways Extends Libya Flight Suspension

Libya & Italy Sign 6 Aviation Deals at Benina Airport

EDITOR PICKS

Libyan Teachers Threaten General Strike in Tripoli Over Pay

Libya Joins International Effort to End Gaza Blockade

Libya Declares Health Emergency to Prevent Cholera Spread from Sudan

Libya Launches $2 Billion Project to Transform Desert Into Regional Trade Corridor

Libya Ranks Lowest in Arab World for Solar Energy Use

Libya’s Benghazi to Host Major International Construction Expo

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR