The Libyan National Oil Corporation (NOC) inaugurated its first international office in Houston on Friday, saying the office is mandated to lead a 60 billion USD procurement drive to upgrade Libya’s oil and gas sector and increase production capacity to 2.1 million barrels per day by 2023.
The Chairman of the NOC, Mustafa Sanallah, said this is NOC’s first international office, and it will be a major milestone in the company's journey as an NOC responsible for Africa’s largest proven oil reserves.
"Our presence in Houston signals the important role that US companies and expertise can play in the development of our oil and gas sector.” Sanallah added.
Sanallah added that Houston will serve as a vital procurement and engineering hub for NOC to tap into the best expertise and technology in the market, adding that the NOC intends to expand its capability and use of cutting-edge R&D to ensure Houston becomes the focal point for the development of Libyan oil sector.
"For our US partners, this office will become a gateway to new opportunities in Libya as we look to sustain and grow this sector integral to national economic development,” the NOC Chairman explained.
He indicated that NOC’s strategy and plans could only proceed if a ceasefire would have taken place in fighting areas across Libya, calling on the international community and United Nations to do all they can to end ongoing hostilities in and around Tripoli.