Libya’s National Oil Corporation (NOC) will sign a new exploration agreement during the Libya Energy & Economic Summit 2023 scheduled for November 8.
This was stated by Farhat Bengdara, chairman of the NOC, during a meeting on Sunday with Prime Minister Abdul Hamid Dbeibeh, according to the premier’s media office.
The agreement will concern in particular the carrying out of upstream activities in Block NC7, in the Ghadames basin. The agreement should involve various international partners.
“The agreement will help increase the country’s natural gas production,” Bengdara said. For his part, Dbeibeh stressed the need to prioritize the NOC’s plans to operationalize all its factories and boost local production of petroleum derivatives, especially gasoline.