This content is not available in your region

Libya's National Oil Corp launches London-based services arm

By Reuters

CAIRO – Libya’s National Oil Corp (NOC) said its chairman Mustafa Sanalla officially opened a commercial services unit Marzq Petroleum Services Co Ltd in London on Monday.

Marzq would assist NOC by collaborating with British firms, including engineering, procurement and construction contractors, to help faciliate new projects and improve business operations, NOC said in a statement.

NOC aims to expand its oil production capacity by more than 2 million barrels per day.

Security issues in Libya, where a fragile peace process has installed a unity government, have repeatedly threatened to undermine oil output that has topped 1.3 million barrels per day (bpd) this year.