NOC Celebrates Schlumberger’s Return to Pre-2011 Independent Status
The NOC officially marks today’s issuance of the strategic decision to separate SLB’s (formerly Schlumberger) Libya operations from North Africa management. The Libya operations will become an independent operating entity under the name LIG, reporting directly to Middle East and North Africa (MENA) regional management.
This strategic decision represents a historic step toward strengthening the sovereignty and resilience of Libya’s oil and gas sector. It was made in line with the directives and determination of the NOC. The decision follows discussions between the NOC Board Chairman, Engineer Masoud Suleman, and SLB’s CEO, with the goal of restoring an independent operating structure for Libya’s business, similar to the arrangement that existed prior to 2011. It is also expected to improve performance efficiency by giving the company greater flexibility to manage operations, aligned with the specific characteristics and needs of the Libyan market.
This restructuring of the company also supports efforts to increase production and enhance its responsiveness to the NOC’s objectives of boosting output, achieving sustainability, and encouraging competitiveness. In turn, it will reinforce Libya’s position as a reliable energy supplier and as a mature, attractive environment for investment.
The NOC recognizes the strong performance and expected growth of SLB’s operations in Libya, which played a key role in this decision. The Chairman of the NOC Board of Directors would like to express his appreciation to Mr. Olivier Le Peuch, CEO of SLB; Mr. Steve Gassin, Deputy CEO; and Mr. Jesus Lamas, President of SLB’s Middle East and North Africa region, for honoring their commitments and for their dedication to strengthening a strategic partnership built on nearly 70 years of collaboration.
It is worth noting that Schlumberger Libya (SLB)’s return as an independent entity sends a strong message to the international community about the sector’s recovery and its ability to overcome challenges previously linked to “force majeure.” This paves the way for a new phase of productive cooperation that serves the national interest and supports Libya’s ambitions for regional and international leadership.