LIBYA: Country hosts a major oil and gas conference in Tripoli as the country seeks to reach and exceed pre-war oil production levels with the help of foreign firms

Record ID: 344190

  • Title: LIBYA: Country hosts a major oil and gas conference in Tripoli as the country seeks to reach and exceed pre-war oil production levels with the help of foreign firms
  • Date: 24th April 2012
  • Summary: TRIPOLI, LIBYA (APRIL 23, 2012) (REUTERS) EXTERIOR OF TRIPOLI INTERNATIONAL FAIRGROUND WHERE OIL AND GAS EXHIBITION IS TAKING PLACE CLOSE OF BANNER WRITTEN IN ARABIC AND ENGLISH, READING: "OIL AND GAS LIBYA 2012" VARIOUS OF OIL MINISTER ABDULRAHMAN BEN YAZZA SPEAKING AT PODIUM (SOUNDBITE) (Arabic) LIBYAN OIL MINISTER, ABDULRAHMAN BEN YAZZA, SAYING: "This means a lot for the new Libya, it is a message for the world that everything is coming back to normal and that Libya is a market for improving techniques, improving Libyan (skills), lifting the performance of this industry to international levels from an environmental and human skills perspective, as well as raising production whilst preserving the environment." EXTERIOR OF EXHIBITION WING FOR LIBYA ENERGY INFRASTRUCTURE OFFICIALS SPEAKING AT "TOTAL" STAND CLOSE OF POSTER WRITTEN IN ENGLISH, READING: "TOTAL, COMMITMENT TO LIBYA" (SOUNDBITE) (English) VICE PRESIDENT OF "TOTAL" IN NORTH AFRICA, JEAN-DANIEL BLASCO, SAYING: "Of course, IOC's (International Oil Companies) need security for their personnel, stability of the fiscal regime and a vision to shape their future. I mean this is a state for stability because we have a long term industry, which is of absolute necessity. So this was more general worlds, we don't have any problems for the time being in Libya regarding these topics, except security, which of course we consider as acceptable today to work." MORE OF EXHIBITION (SOUNDBITE) (English) DIRECTOR OF OIL AND GAS AT DUTCH FIRM ROYAL HASKONING, ERIK HUBER, SAYING: "I'm happy to be around in Libya to hopefully restart business. We are here already for 25 years with port related projects, also for refinery port in Zawiya, and I think it's a great opportunity for a company like us to participate in the re-establishment of the Libyan oil and gas industry." VARIOUS OF TECHNICAL EQUIPMENT ON SHOW AT EXHIBITION VARIOUS OF HILL INTERNATIONAL STAND CLOSE OF LIBYAN AND U.S. FLAGS (SOUNDBITE) (English) U.S. ASSISTANT SECRETARY OF STATE FOR ECONOMIC AND BUSINESS AFFAIRS, JOSE FERNANDEZ, SAYING: "We're here to support Libya as its people work to build a foundation for a flourishing and diverse economy, and our companies -- American companies, are ready to come back." MORE OF PEOPLE IN EXHIBITION
  • Embargoed: 9th May 2012 13:00
  • Keywords:
  • Location: Libya, Libya
  • Country: Libya
  • Topics: Religion,Technology,Sports
  • Reuters ID: LVA315M6WUDF7XKMTYWF8QE5EU6I
  • Story Text: Libya hosted on Monday (April 23) its first oil and gas conference since the ousting of Muammar Gaddafi last year, in a bid to boost the county's energy potential.
    The four-day conference in Tripoli saw participation of major global oil firms who have been invited by Libya's National Oil Corporation (NOC) to help lend their expertise in the fields of production, exploration, refining and petrochemicals.
    Libya said some of the infrastructure in its energy sector needs major reconstruction following several years of underinvestment and damage caused by a deadly conflict last year between a pro-democracy movement and its NATO allies, and forces loyal to Gaddafi.
    Libyan oil production has climbed to about 1.5 million barrels per day (bpd) and the North African country hopes to reach pre-conflict levels by mid-year, Oil Minister Abdulrahman Ben Yazza said.
    "This means a lot for the new Libya, it is a message for the world that everything is coming back to normal and that Libya is a market for improving techniques, improving Libyan (skills), lifting the performance of this industry to international levels from an environmental and human skills perspective, as well as raising production whilst preserving the environment," he said.
    French oil firm Total was among dozens of foreign companies at the exhibition.
    "Of course, IOC's (International Oil Companies) need security for their personnel, stability of the fiscal regime and a vision to shape their future. I mean this is a state for stability because we have a long term industry, which is of absolute necessity. So this was more general worlds, we don't have any problems for the time being in Libya regarding these topics, except security, which of course we consider as acceptable today to work," said Jean-Daniel Blasco, North Africa Vice President at Total.
    Libya's interim government has repeatedly said there would be no new deals signed until after elections, currently set for late June.
    Erik Huber, director of Oil and Gas at Dutch firm Royal Haskoning, said security was a factor that international firms needed to monitor.
    "I'm happy to be around in Libya to hopefully restart business. We are here already for 25 years with port related projects, also for refinery port in Zawiya, and I think it's a great opportunity for a company like us to participate in the re-establishment of the Libyan oil and gas industry," he said.
    Meanwhile, U.S. assistant secretary of state for economic and business affairs, Jose Fernandez, said he had brought more than 20 American companies to look into business opportunities in several sectors, as well as energy.
    "We're here to support Libya as its people work to build a foundation for a flourishing and diverse economy, and our companies -- American companies, are ready to come back," he said.
    This month, Libya has started investigating foreign oil companies over their past relationships with Gaddafi's government.
    According to the National Transitional Council (NTC) Oil Committee, the government had requested documents from Libya's National Oil Corporation (NOC), which is in charge of contracts between private companies and the state.
    Industry sources have long expected a wide-scale probe of oil deals by the new rulers in Libya, who are under pressure to root out any graft from the Gaddafi era.
    A by-product of the investigation, industry sources said, could be that some old contracts are reallocated to reward countries that strongly supported last year's uprising, which ended Gaddafi's 42-year rule.
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