Libyan National Oil Corporation (LNOC) Chairman Mustafa Sanalla met with PESA Executives on November 16 over a private breakfast at the Houstonian. Chairman Sanalla advised the attendees LNOC plans to open a Houston procurement office in early 2018.
Chairman Sanalla’s overarching goal is to boost production from its current level of 880 thousand barrels of oil per day (BOPD) to 2 million BOPD. (Prior to the revolution, production was 1.6 million BOPD). To achieve this goal Libya will be seeking to attract investments of $20 billion during the next three years, primarily from international oil companies.
Chairman Sanalla said LNOC has substantial needs from the oilfield service and supply sector. LNOC plans to leverage the Houston procurement office to ensure it obtains the best technology in a transparent process. PESA attendees encouraged the Chairman to have an engineering function domiciled at the office so it could provide technical support to the procurement officers.
While unrest continues in Libya, Chairman Sanalla stressed LNOC will remain a neutral entity. As LNOC moves forward with rebuilding its upstream and downstream sector, there will be substantial opportunities for oilfield service and supply sector companies, which can offer innovative solutions to complex E&P activities.
If you have questions, please contact PESA Senior Director Public Policy Jean Gould.