Libya’s Oil and Gas Minister in the Government of National Unity, Khalifa Rajab Abdul Sadiq, has declared the nation’s readiness to embrace foreign investment, particularly due to the National Oil Corporation’s (NOC) ambitious drive to elevate production capacity to a target of two million barrels per day. The minister pointed to this aspirational goal as representing a fertile ground of promising and enticing investment opportunities for international companies eyeing Libya’s energy sector.
This assertion came during a meeting between the Oil and Gas Minister and the Ambassador of the Republic of Malta to Libya, Charles Saliba, where discussions centred on exploring avenues for bolstering mutual economic cooperation and cultivating strategic partnerships between the two friendly nations.
During the productive discussions, both sides engaged in an in-depth exploration of mechanisms to strengthen bilateral cooperation and broaden the horizons of partnership across vital sectors encompassing oil, gas, and renewable energy. They also exchanged perspectives on the latest developments surrounding the ongoing public bidding round for exploration and development in the oil and gas sector, and the attractive investment prospects this round presents to global energy players.
Both the Minister and the Ambassador underscored the paramount importance of leveraging the strong and historical ties that bind Libya and Malta to unlock new and innovative avenues for collaboration and investment in the oil, gas, and energy sectors, ultimately serving the mutual benefit of both nations. Concluding the meeting, the Minister extended a formal invitation to the Maltese Embassy to coordinate and collaborate with private sector entities in both Malta and Libya to organise a high-level Libyan-Maltese economic forum. The Minister envisioned this proposed forum as a practical and effective platform for the exchange of expertise and knowledge between companies from both countries.