Gulf Oil and Gas accountACCOUNT

NOC & CNPC Explore Cooperation and Investment Opportunities

Source: www.gulfoilandgas.com 7/25/2019, Location: Africa

A senior delegation from National Oil Corporation (NOC) is in China at the invitation of the country’s leading oil major China National Petroleum Corporation (CNPC) to discuss investment and enhanced cooperation opportunities in the Libyan oil and gas sector.

The NOC delegation, headed by chairman Eng. Mustafa Sanalla, was welcomed by CNPC’s vice president and president of PetroChina, Hou Qijun, and the chairmen of CNPC's subsidiaries. Mr Hou expressed China and CNPC’s direct interest in progressing cooperation in Libyan exploration and development, oilfield services, and trading of Libyan crude, with parties potentially cementing future relations through the signature of a memorandum of understanding (MoU) at their next meeting.

Thanking CNPC for the invitation, chairman Sanalla said: “In China, NOC has met some of the highest qualified companies in our industry and shared with them opportunities for reconstruction and development investment in our local oil sector. With a more stable security environment, we could easily add between 300-400,000 barrels to daily production and grow oil revenue receipts. Our long-term strategy is to produce 2.1 million bpd by 2023. China can help us on that journey.

“We hope that China and its leading oil sector companies will become partners to our vision for the local oil sector based on mutual opportunities through oil and gas imports, joint exploration and development, and the sharing of technical expertise,” added the chairman.

NOC also visited the headquarters of CNPC International Company, the Great Wall Drilling Company (GWDC), China Petroleum Technology & Development Corporation (CPTDC), BGP, China Petroleum Engineering & Construction Corporation (CPECC) - CNPC subsidiaries previously operational in Libya. Chairman Sanalla thanked NOC’s hosts for their efforts to enhance Chinese-Libyan cooperation, encouraging them to engage with future commercial opportunities in Libya.

The NOC delegation includes Eng. Abulgasem Shengheer, NOC board member; Dr Jamal Houwaisa, technical adviser to the NOC board; Mr Ahmad Ammar, chairman of the Waha Oil Company; Mr Mohamed Ben Shatwan, chairman of Arabian Gulf Oil Company; Mr Nuri Essid, chairman of Akakus Oil Operations; Mr Naji Ahfaf, chairman of the Sirte Oil Company; Dr Khalifa Rajab, chairman of Zallaf Oil & Gas Exploration and Production Company; Mr Imad Ben Rajab, general manager of NOC’s International Marketing Department; and Ms Naima Suwani, crude oil marketing manager.

For more information about related Opportunities and Key Players visit North Africa Projects

Investment News in Libya >>

Nigeria >>  9/10/2019 - Solo Oil has signed a sale and purchase agreement (SPA) to exit its 20% investment in Burj Petroleum Africa Limited, a company which had applied for v...
China >>  9/5/2019 - Saudi Aramco signed a Memorandum of Understanding (“MoU”) with China’s Zhejiang Free Trade Zone, in which the Zhoushan Government emphasized its suppo...

United Arab Emirates >>  9/4/2019 - The Abu Dhabi National Oil Company (ADNOC) has formally closed its $600 million pipeline infrastructure investment agreement with GIC, Singapore’s sov...
Iran >>  4/20/2015 - Two British companies are gathering information about how to invest in Iran, managing-director of Iran Industries Investment Company said. ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Libya Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.