The National Oil Corporation (NOC) is launching a project to study and improve the NOC's Strategic Plan and support corporate governance in the oil sector, in collaboration with the US Department of Energy.
The NOC is partnering with the US Department of Energy to carry out a comprehensive study of the NOC's medium to long-term development plan to rehabilitate and develop the producing and newly discovered fields in order to increase oil and gas production.
The study also includes a review of the corporate governance within the NOC and its subsidiaries. The ultimate objective is to highlight the NOC's strengths, identify areas in which the NOC can improve efficiency and effectiveness, and suggest measures that will support the NOC's performance, promote expanded international investment in Libya, and align the NOC with best international corporate practices.
This should enhance the chances of attracting international investment and facilitate cooperation with leading international companies in all fields of the oil industry.