Tripoli: Libya’s National Oil Corporation (NOC) said on Wednesday it had signed a deal with French building and engineering group Artelia to manage the development of an office complex in the eastern city of Benghazi that will house the company’s headquarters.
There have been plans for years to move the state oil firm’s headquarters from the capital Tripoli back to Benghazi, but it remains unclear when such a transfer could happen.
NOC did not say when the complex would be built.
The buildings will include offices for other oil companies and a branch of Libya’s central bank, as well as a hotel complex and a conference center, NOC said in a statement.
It said the deal had been signed by NOC Chairman Mustafa Sanalla and Artelia executive director Alberto Romeo on Friday, and that funding would come from commercial banks. There were no details on the cost of the project.
Most of OPEC member Libya’s oil resources lie in the east of the country, but former leader Muammar Qaddafi moved NOC to Tripoli and starved the eastern region of investment.
Benghazi now wants greater influence but parts of the city are in ruins after more than three years of fighting linked to a broader conflict that developed in Libya after the country’s 2011 uprising.
Rival factions based in Tripoli and the east have vied for power over the past four years, with some groups in the east making unsuccessful attempts to sell oil independently of Tripoli.
Libya’s oil production, which was crippled by conflict and blockades after 2013, has partially recovered to more than one million barrels per day (bpd) last year.
The NOC recently announced it would organize an oil and gas conference in Benghazi in October.
Libya’s National Oil Corp. signs deal with Artelia for new Benghazi offices
Libya’s National Oil Corp. signs deal with Artelia for new Benghazi offices
- French firm Artelia to manage NOC company headquarters in Benghazi
- Most of Libya’s oil resources lie in the east of the country near Benghazi
Saudi Arabia opens 3rd round of Exploration Empowerment Program
RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, has opened applications for the third round of the Exploration Empowerment Program, part of ongoing efforts to accelerate mineral exploration in the Kingdom, reduce early-stage investment risks, and attract high-quality investment from local and international mining companies.
The third round of the Exploration Empowerment Program offers a comprehensive support package targeting exploration companies and mineral prospecting license holders.
The initiative aims to lower investment risks for projects and support a faster transition from prospecting to development.
"The program provides coverage of up to 70 percent of the total salaries of Saudi technical staff, such as geologists, during the first two years, increasing to 100 percent thereafter, in line with program requirements.
This support aims to develop talent, build national capabilities in mineral exploration, promote job localization, and facilitate the transfer of geological knowledge.
The application for the third round opened on Jan. 14, allowing participants to benefit from the Kingdom’s attractive investment environment, its stable legal framework, and streamlined regulatory structures, as well as integrated infrastructure that supports the transition from mineral resources to operational mines.
The ministry has set the timeline for the third round, with the application period running from Jan. 14 to March 31.
This will be followed by the evaluation, approval, and signing of agreements from April 1 to May 31, with the eligible projects set to be announced between June 1 and July 31 of the same year.
The program stages include submitting exploration data during the reimbursement and payment phase from Sept. 1 to Nov. 30, followed by technical and financial verification of work programs and approval of the disbursement of support funds in January 2027.
The exploration data will then be published on the National Geological Database in April 2027.
The ministry emphasized that the EEP focuses on supporting the exploration of strategically important minerals with national priority. It also contributes to enhancing geological knowledge by providing up-to-date data that meets international standards, helping investors make informed decisions and supporting the growth of national companies and local supply chains.
The ministry urged companies to apply early to benefit from the program’s third round, which coincided with the fifth edition of the International Mining Conference, which was held from Jan. 13 to 15.
