Home World News Emerging Markets Libyan oil companies anticipate working with Chinese firms

Libyan oil companies anticipate working with Chinese firms

0
Residual Fuel Oil
Residual Fuel Oil

Libyan oil companies on Monday expressed the hope to cooperate with their Chinese counterparts to increase production and further develop the industry.

The remarks were made during a technical seminar held in the Tunisian capital Tunis by China’s Greatwall Drilling Company (GWDC), a subsidiary of China National Petroleum Corporation, with the participation of more than 20 oil companies from Libya, Tunisia, and South Sudan.

Noting “China has great achievements in the oil and gas sector” Abdulhadi Abugnima, workover superintendent at the Libyan National Oil Corporation (NOC), said his company is eager to work with major oil companies to increase Libyan oil and gas production and to also bring down operational costs by using new technologies.

Ghaith Bashir al-Firjani, head of the Well Drilling and Maintenance Department of Libya’s Al-Waha Oil Company, said: “We seek to make sure that Chinese companies play a role in the Libyan oil sector, as this would create good competition in the sector.”

Muammar Abdussalam, drilling supervisor at Libya’s Mellitah Oil and Gas Company, said “I strongly recommend that GWDC return to work in Libya, so that we can benefit from its experience in more than one oilfield in Libya.”

Oil and gas represent a major source of Libya’s revenue.

However, the sector has suffered over the past years from armed conflict and oil field and port closures.

In November last year, Libya’s Minister of Gas and Oil Mohamed Aoun announced that Libya is seeking to increase oil production to 2.1 million barrels per day and natural gas production to about 4 million cubic feet per day over the next five years.

Send your news stories to newsghana101@gmail.com Follow News Ghana on Google News

NO COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP Radio
WP Radio
OFFLINE LIVE
Exit mobile version