On Thursday, the Chairman of Libya’s National Oil Corporation (NOC), Masoud Suleiman, reaffirmed Libya’s position as a highly attractive and competitive destination for oil and gas investment.
Speaking at the annual OPEC conference in Vienna, Suleiman emphasized that Libya’s strategic location, close to key international markets, makes it an ideal hub for energy investment.
In his remarks, Suleiman pointed to Libya’s untapped potential in oil and gas exploration and development. He stressed that the exploration blocks currently available to investors present significant opportunities, backed by the country’s vast natural resources.
He noted that the NOC is fully open to partnerships in all areas of the energy sector, including petrochemicals such as fertilizers, methanol, and ethylene, as well as oil refining projects. These projects, he said, are designed to meet domestic energy needs and export surpluses to the global market.
Despite the difficult conditions Libya has endured in recent years—including political instability, production shutdowns, and financial hurdles—Suleiman reaffirmed Libya’s continued commitment to OPEC’s policies and production agreements. He acknowledged the adverse impacts of supply disruptions, financial constraints, and global oil price fluctuations on the NOC and Libya’s broader economy.
Suleiman stressed that the NOC has developed ambitious plans in partnership with major international companies aimed at boosting production, modernizing infrastructure, and expanding Libya’s presence in global energy markets. He expressed hope that these efforts would lead to broader international partnerships and long-term investments.
He also emphasized Libya’s readiness to engage with international partners and investors, noting that the NOC seeks to unlock new opportunities and attract expertise to advance the country’s energy sector.
Concluding his address, Suleiman voiced optimism that the Libyan delegation at the conference would successfully present a forward-looking vision for the country’s oil and gas sector. He said such efforts are key to opening new investment avenues, supporting economic development, and strengthening Libya’s role as a reliable energy supplier in global markets.
