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NOC

Contacts

National Oil Company Libya
Assekka Road
Tripoli
Libya

Tel: 0214446181

Description

The National Oil Corporation (NOC) was established on 12 November 1970, replacing the general Libyan Petroleum Corporation to assume the responsibility of oil sector operations in Libya.

NOC carries out exploration and production operation through its own affiliated companies, or in participation with other companies under service contracts or any other kind of petroleum investment agreements.

Prior to former Libyan leader Muammar Qadhafi’s ouster, Libya’s oil industry was run by the state-owned NOC. The NOC was responsible for implementing Exploration and Production Sharing Agreements (EPSA) with international oil companies (IOCs), as well as its own field development and downstream activities. The NOC subsidiaries include the Sirte Oil Company and the Arabian Gulf Oil Company (Agoco). The NOC continues to be the main body overseeing Libya’s oil and natural gas industry. However, the situation recently became complicated as Libya currently has two competing parliaments vying for power - the elected and internationally recognized House of Representatives and the recently reinstated General National Congress (GNC). The GNC appointed a Ministry of Oil, although the ministry’s role in the oil industry and the degree to which it is working with the NOC remain unclear.

Natural Gas
Libya’s natural gas sector is mostly state-run by the NOC and its Sirte Oil Company subsidiary. IOCs in Libya are less involved in natural gas production than they are in oil production, although Eni is a notable exception because of its stake in the large Western Libya Gas Project.

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