The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah has been selected as the Chief Executive of the Year at the Petroleum Economist Annual Awards gala ceremony in London.
The international award was promoted by the NOC Chairman and the firm's success in restoring oil production to around one million barrels per day "in a deeply divided political environment" according to "international peers of Sanallah." 4 Traders website reported Tuesday.
"I am deeply honored to be named Chief Executive of the Year by Petroleum Economist. This award belongs to my colleagues, the extraordinary employees of NOC and its affiliate companies, who risk so much everyday knowing that the future of our nation lies in their hands. I would like to thank them on behalf of that future." Sanallah said as he accepted the award in London.
Meanwhile, other winners at this prestigious global award included Total which was named Large Cap Energy Company of the Year, ENI also won the Exploration Company of the year, and the Minster of the Year award went to Saudi Arabia's Khaled Al Falih.
Elliot Thomas, Managing Director, Petroleum Economist has expressed admiration of NOC and Sanallah's achievement, "despite the political dysfunction and civil conflict in Libya as well as the frequent threats to energy installations."
"Despite all of that, the National Oil Corporation has almost quadrupled its oil production since August 2016 - a feat crucial to Libya's economic survival. This achievement, combined with his stewardship of Libya's oil sector and determination to guarantee NOC's political independence, make Mustafa Sanallah the stand-out global energy executive of 2017. He is a worthy winner of Petroleum Economist's Chief Executive of the Year award," Mr. Thomas added, according to 4 Traders.
The Petroleum Economist Awards aim to celebrate the people, companies and projects which epitomize the best of the energy industry. The scheme particularly seeks to identify and recognize examples of innovation and originality; sound business practice; and commitment to environmental protection and employee welfare.