Masoud Suleman Affirms Recovery of Libya’s Oil Sector, Citing Achievements
The Acting Chairman of the National Oil Corporation (NOC), Engineer Masoud Suleman, confirmed that Libya’s oil sector is in continuous recovery, citing the significant successes achieved by the NOC over the past three years. Chief among these accomplishments is the increase in Libya’s crude oil production, which now exceeds 1.4 million barrels per day, along with substantial gas and condensate production. Despite the numerous challenges faced in achieving this milestone, Suleman praised the dedication of the NOC’s workforce and the extensive efforts they have made. He also highlighted the proper use of technology and the availability of a stable security environment as key factors in these achievements.
In a speech delivered at the opening ceremony of the Libya Energy and Economy Conference 2025 in Tripoli, Suleman unveiled the NOC’s vision to continue capitalizing on favorable market conditions and move forward with the primary goal of reaching 2 million barrels per day of production within the next three years, contingent on sufficient funding.
Suleman also explained that the NOC is working with specialized teams to implement an organizational structural reform, aiming to establish an institution based on international best practices. The NOC continues to invest in its workforce and is bringing in fresh talent from oil related disciplines, drawing graduates from 54 Libyan cities.
On another front, Suleman emphasized the NOC’s efforts to advance Libya’s petrochemical industry. As part of a strategic plan, the NOC is working to enhance refining capacities and meet both domestic and international demand, encouraging the private sector to play a key role as a service provider in the oil and gas industry.
Furthermore, Suleman reaffirmed the NOC’s ongoing commitment to international standards concerning emissions and sustainability. He noted the creation of a renewable energy division within the NOC’s administrative structure and pointed out that efforts are underway to reduce harmful emissions and achieve zero flaring.
The opening ceremony was attended by the Prime Minister of the Government of National Unity, Engineer Abdulhamid AlDbaiba, along with the acting Ministers of Oil, Economy and Trade, Transport, and Labor and Rehabilitation. Also in attendance were the Secretaries General of OPEC, OAPEC, the African Petroleum Producers Organization (APPO), and the Gas Exporting Countries Forum (GECF), as well as a host of directors, executives, and representatives from major international oil and energy companies, and other stakeholders from within and outside Libya.
The Libya Energy and Economy Summit 2025 will continue over Saturday and Sunday, featuring broad participation from experts, specialists, and academic researchers from Libya and abroad. They will present papers and in-depth studies addressing the operational mechanisms and future aspirations of Libya’s oil and energy sector, while also exploring ways to overcome the challenges facing this vital industry.
#Libya #National_Oil_Corporation