Libyan officials double down on efforts to raise hydrocarbon output

The Tripoli-based Prime Minister, Acting Oil and Gas Minister, and the National Oil Corporation (NOC) Chairman are now all working together in view of boosting Libyan hydrocarbon production. This can be seen with strong engagement with foreign partners, notably as the country anticipates its first licensing round in decades.

A closer look

As expected with the suspension of Oil and Gas Minister Mohamed Aoun and behind-the-scenes directives by the Government of National Unity (GNU) Prime Minister, there has been further confirmation regarding plans to develop the NC7 field.

In fact, Acting Minister of Oil and Gas Khalifa Abdulsadek has told CNBC Arabia that Italy’s Eni would lead a consortium to develop the field as long as the NOC and High Energy Council (HEC) approve - which can be considered as a done deal since the HEC is headed by Abdulhamid Dabaiba.

The NOC Chairman also supports the project and has sought to bring High Council of State (HCS) Chairman Mohamed Takala closer to his position as the latter has so far opposed the gas field project as a means to gradually distance himself from Dabaiba.

Both Bengdara and Dabaiba share the priority to boost oil output to 2 million barrels per day in the next three years, with the GNU Prime Minister urging the NOC Chairman to “adhere to project timelines, ensure financial flows, and disclose all contracts and procedures to Libyans and relevant regulatory bodies for transparency and accountability.”

These demands will be difficult to satisfy equally, notably considering the murky financial waters Libya finds itself in due to the feud between Dabaiba and the CBL Governor.

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