The United Kingdom's ambassador to Libya, Frank Baker, has stressed the importance of international community and Libyan institutional support for the National Oil Corporation (NOC) as the country’s primary source of income.
In a meeting with the Chairman of the NOC Mustafa Sanallah, Baker praised the NOC and its board for the determination to sustain the recovery of the Libyan economy.
"The meeting addressed several important issues, including actions taken by the NOC and Brega Petroleum Marketing Company (BPMC) to combat fuel smuggling." The NOC said in a statement on its website on Saturday.
It added that both Baker and Sanallah had discussed further potential cooperation and investment opportunities with British companies to support the development of the oil and gas sector.
“NOC is constantly striving to maintain and increase production, in cooperation with the IOC’s and within available budgets. A crucial element to our success, however, is improving oil facility security; for both our staff and continuity of supply assurance,” NOC's Chairman remarked.
In the meantime, Baker expressed his optimism that stability could return to Libya as oil production rates steadily return to normal level despite the current security and violations' challenges.
The revenue of Libya's oil output from January to October this year has over 19.7 billion dollars, according to the NOC.