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Wednesday, June 9, 2021
The establishment of a new joint Libyan-Egyptian gas company was discussed when NOC’s Chairman of the Board of Directors, Eng. Mustafa Sanalla met with the Ambassador of the Arab Republic of Egypt to Libya, Mohamed Tharwat on June 7.
The delegations of both sides reviewed past agreements and discussed their possible activation as well as discussed future cooperation in new joint oil and gas projects.
Of particular prominence is the discussion regarding the activation of the “Gulf Sirte Gas Projects Company.” The proposed company would be in partnership with Enppi, Petrojet and the Libyan Economic and Social Development Fund, which was established in 2007. The proposed participation is 24.5%-Enppi, 24.5%-Petrojet, and 51%-Libyan Economic and Social Development Fund.
The importance of the return of Egyptian companies to participate in the Libyan oil sector projects was also emphasized by the NOC side.
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