NOC Chairman Suleiman meets with Aiteo representatives on Murzuq Basin exploration
via Libya Herald1 min read
Libya's National Oil Corporation NOC Chairman, Masoud Suleiman, met with representatives from the Nigerian company Aiteo. Aiteo was a successful bidder in the public tender round, securing Block M1 in the Murzuq Basin for exploration. The discussions focused on Aiteo's plans for a comprehensive exploration program, which includes seismic surveys, drilling multiple wells, and developing existing discoveries within the block. Aiteo confirmed its commitment to the agreed work program and has started establishing a branch in Libya and registering with the Ministry of Economy. This is in preparation for signing a production-sharing agreement with the NOC. Suleiman stated that the meeting is part of ongoing efforts to monitor the progress of companies that won public tender bids and to strengthen the exploration sector to support the Libyan economy.
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The Libyan Export Development Authority LEDA on Tuesday, April 21, called for the Gulf of Sirte to be designated an international nature reserve. This initiative aims to safeguard future generations and ensure the sustainability of Libya's marine resources. LEDA emphasized the objective of protecting the seabed from oil pollution and tanker spills, and enforcing International Maritime Organization IMO standards on all vessels. This is particularly important due to the Gulf of Sirte's environmental significance as a natural breeding ground for tuna. LEDA stated that adhering to environmental standards, including Exhaust Gas Cleaning Systems EGCS and Ballast Water Treatment System BWTS regulations, is a national duty to preserve maritime sovereignty, an environmental necessity for biodiversity, and an economic investment to increase tuna production and secure Libyan exports.
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The Benghazi Chamber of Commerce recently welcomed a high-level Japanese delegation, led by Ambassador Shimura Izuru, to discuss strengthening economic cooperation and expanding partnership opportunities. The meeting focused on facilitating the entry of Japanese companies into the Libyan market. Munim Naji Al-Saity, Acting Chairman of the Board, and two directors of the Chamber received the delegation. The Chairman highlighted the Chamber's role in supporting the private sector and fostering a conducive business environment, as well as Benghazi's rapid urban and economic development. He emphasized the importance of modern technology for economic and service sector development, acknowledging the global quality and trust in Japanese industries. The Chairman also stressed the need to attract Japanese companies operating abroad and establish communication channels to ease their entry into the Libyan market. He affirmed the Chamber of Commerce's commitment to supporting and facilitating cooperation and investment for Japanese companies returning to Libya, including establishing direct communication with international companies and providing information on investment opportunities.
The first direct flight from Tripoli's Mitiga airport to Madrid landed yesterday, marking the resumption of direct air travel between the two cities after more than a decade. The Spanish Ambassador to Libya participated in the celebration event of the Medsky flight in Madrid. The Spanish Embassy stated that this new twice-weekly service will create new opportunities across all areas of their relationship. This flight coincides with the Libyan Spanish Economic Forum being held in Madrid from April 23 to 24. The Spanish Embassy has been fully operational since reopening in June 2021, and has been actively involved in various initiatives, including opening a Schengen visa application center in Tripoli, organizing cultural events, and facilitating economic discussions. Recent collaborations have also included Spanish medical specialists conducting campaigns in Libya, discussions on military industries and air defense, and a joint venture for an aircraft maintenance center at Misrata airport.