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Libyan oil industry reps seek help from China

Libyan oil industry reps seek help from China

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Libya [National Oil Corporation] NOC representatives traveled to China to discuss China’s interest in helping to restore Libya’s oil industry that has suffered through years of civil unrest, according to the Libya Observer. While there, the Libyan delegation met with CNPC and other companies to discuss “cooperation in Libyan exploration and development, oilfield services, and trading of Libyan crude, with parties potentially cementing future relations through the signature of a memorandum of understanding (MoU) at their next meeting,” NOC’s statement read. “With a more stable security environment, we could easily add between 300-400,000 barrels to daily production and grow oil revenue receipts. Our long-term strategy is to produce 2.1 million bpd by 2023. China can help us on that journey,” NOC Chairman Mustafa Sanallah said. That “more stable security environment” has proved rather elusive for Libya, with unrest disrupting oil production and exports on a semi-regular basis. The…
Source: Libyan oil industry reps seek help from China

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