Libya to open oil hub in London

Libya’s National Oil Corp. (NOC) is in the process of opening an office in the UK capital London in an effort to increase the North African state’s production, the Times reported the organisation announcing.

Talking to the Times, NOC Chairman Mustafa Sanalla said the London office would oversee consultancy tenders, portfolio management, and capacity building services.

“There will be an agreement with well-known British companies, the large well-known companies in all specialisations, whether engineering or reservoir studies, specifically. And chain supply will be from London, over the medium term,” Sanalla said.

The Libyan British Business Council (LBBC) welcomed the NOC’s consistent commitment to the UK.

“LBBC supports the imminent creation of the NOC London office in every possible way. So does the Prime Minister’s Trade Envoy to Libya, Damien Moore MP,” said LBBC Chairman Sir Vincent Fean KCVO.

NOC’s office will be located in Mayfair and should open in March or April.

According to the NOC webpage, the organisation opened its first international office in Houston, US, in 2019.

READ: After 7 years, Algeria to reopen embassy in Libya