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The National Oil Corporation and its subsidiaries participate in the activities of the 3rd German-Libyan Economic Forum
Organized by the General Federation of the Chamber of Commerce, Industry and Agriculture, in partnership with the Federal Republic of Germany, and under the honorary patronage of the Government of National Unity.
Eng. Mustafa Sanalla, Chairman of the National Oil Corporation (NOC), participated in the activities of the third German-Libyan Economic Forum, which was held today, Monday, March 29, 2021, in the Conference Hall of the Al-Mahary Hotel. The activities of the forum were attended by the Minister of Economy at the Government of National Unity, Mr. Mohammad Al-Hawij and Chairman of the General Union of Trade, Industry and Agriculture, Mr. Mohammad Al-Raeed and His Excellency the German Ambassador to Libya, Oliver Ovtsha, in the presence of NOC Members of the Board of Directors , Abulgasem Shengeer and Jadallah Al-Awkali, in addition to a number of Chairmen of the Management Committees of oil companies, Libyan and German public and private commercial companies, and a group of businessmen from both countries.
His Excellency the Minister of Economy of the National Unity Government, Mr. Mohammad Al-Hawaij, inaugurated the activities of the forum with a speech in which he indicated the government’s determination to overcome all difficulties and open horizons for economic and trade cooperation and exchange between the two countries and to start the stage of building and pushing forward the development schemes in Libya.
Mr. Mohammad Al-Raeed, Chairman of the General Union of Trade, Industry and Agriculture, stressed during his speech that despite the challenges that Libya is going through in particular and the world in general, but with the intensive efforts and the opening and expansion of cooperation frameworks, everyone will be able to overcome this difficult stage, and Libya will be able to rise again. .
In his speech, His Excellency the German Ambassador, Oliver Ovtsha, explained that Libya has been a source of continuous positive news in recent days, and expressed his happiness with the recovery of the Libyan economy and the increase in production rates at very important times.
During the workshop activities, the Chairman of the Board of Directors, Eng. Mustafa Sanalla, delivered a speech in which he welcomed the delegation of German companies, noting that despite these difficult times the world is going through due to the Corona pandemic, he looks forward to opening horizons for cooperation on the German side in the field of oil and gas and the associated services. At the same time, he pointed to the strong historical economic relations that have linked German companies with the National Oil Corporation for decades.
Eng. Sanalla added, “I would like to seize this opportunity to extend my deep thanks to the German government for hosting all the Libyan parties and influential regional countries in January 2020, and I believe that the outcomes of the Berlin Conference are what greatly led to us reaching the positive results we are seeing today on the ground represented in the formation of a national unity government, stopping the conflict, and moving towards supporting the economy, and I believe one of these accomplishments is our presence together in this forum.”
Eng. Sanalla also explained that there are an unlimited number of German companies in various fields that have already returned to work, explaining that he wishes to enter a greater number of German companies in the field of oil and gas to benefit from their expertise to develop the sector and advance it because of the great importance it represents for the Libyan state, being the backbone of life and the main economic engine of the wheel of development in Libya.
During the forum activities, many economic topics and issues in the vital fields of the country were discussed, on top of which was the oil sector, as well as electricity.
With regard to the oil sector, the participants asked many important questions, which were answered by NOC Chairman, explaining the challenges faced by the Libyan oil sector, and the prominent role played by the National Oil Corporation over the past years in supporting the country’s economy and maintaining production rates in very difficult circumstances, under its lack of the necessary budgets to do the work entrusted to it.
At the end of the forum’s activities, the Board of Directors of the National Oil Corporation, in the presence of Chairmen of the Management Committees of its affiliated oil companies, held a meeting with Chairmen and Representatives of German companies in the field of oil and energy, during which they discussed the development of joint cooperation in various fields in the oil industry, including exploration, drilling, maintenance, training and other important matters that will contribute to economic development in the State of Libya, revive its economy, and broaden the base of partnership to serve the interests of the two countries.
It is worth mentioning that exports of oil and its products during 2010 amounted to 939,848,165.73 US dollars, and a value of 941,133,247.07 US dollars during the year 2012, while exports during the year 2013 amounted to 1,113,693,300.93 US dollars.
