During its visit of last month, The Egyptian petroleum delegation has accomplished fruitful progress in supporting the reconstruction of Libya’s dilapidated petroleum industry. The visit comes in the context of promoting the participation of Egyptian petroleum companies in exploration and production in Libya through the implementation of major projects in Libya and several other neighboring countries, some of which are OPEC members.
The Egyptian delegation was led by the executive director of the Egyptian General Petroleum Company (EGPC), Eng. Hani Dahi, and included Chairmen several Egyptian petroleum companies such as PetroJet, ENNPI, EMC Egypt, Petroment, SinoTharwa and the Egyptian Chinese Drilling Company (ECDC.)
During the visit, the delegation met with Dr. Nuri Berruien, Chairman of Libya’s National Oil Corporation (NOC,) and several other senior executives to discuss the various activities that Egypt can assist with in terms of expertise, human resources and technologies.
One of the visit’s major highlights is the conclusion of the agreement to reopen the preexisting Libyan branches of ENNPI and PetroJet, and the registration several of Egyptian petroleum companies at the Libyan authorities.
Additionally, the Libyan authorities have provisionally approved allocating quantities of crude oil to serve as a strategic substitute to Kuwaiti oil in exchange for Egypt’s provisional acceptance to allow Libya to utilize Egyptian refinery stations located in Alexandria, in the hopes of creating a mutually beneficial relationship between the two nations.