NOC seeks cooperation with US Department of Energy to enhance oil sector

oil and gas - January 10, 2021

The National Oil Corporation (NOC) is to launch a project in partnership with the US Department of Energy to study and improve its strategic plan and governance in the oil sector.

The NOC said in a statement on Facebook that the study comes within the framework of supporting transparency and improving the overall performance of the National Oil Corporation and its affiliates.

'The NOC's study will include medium to long-term development plans to rehabilitate and develop the producing and newly discovered fields with the view to increase oil and gas production, as well as a review of the corporate governance within the NOC and its subsidiaries,' the corporate explained.

The state-run oil company indicated that it is seeking by this step to highlight the NOC’s strengths, identify areas in which it can improve efficiency and effectiveness, and suggest measures that would support performance, promote expanded international investment in Libya, and align the NOC with best international corporate practices.

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