The Minister of Oil and Gas in the Government of National Unity, Mohamed Aoun, confirmed during his meeting today, Monday, with the German Chargé d’Affairs and Deputy Head of the Mission in Libya, Sven Krauspe, that there are various resources other than oil and gas in Libya that can be invested in, in addition to large areas on land and sea that have not been explored. Yet, sites have been explored that contain large quantities of oil and gas on land and at sea.
Aoun confirmed that the German company Wintershall was one of the first companies to sign concession contracts at the end of the fifties of the last century after the issuance of Oil Law No. 25 of 1955 in Libya, and it succeeded more in oil production in the seventies after developing major discoveries in the Sirte Basin.
Aoun pointed out that Libya is considered fifth in the world in shale oil and gas reserves, according to a study by the US Energy Agency in 2015, and that investing in it will double Libyan oil and gas production if it is invested with political and security stability in the country for the return of companies.
For his part, the German Chargé d’Affaires explained that his country had contributed to the Berlin 1 and 2 conferences regarding Libya, expressing his interest in the proposed projects, especially in the field of oil and gas to develop the production capacity of oil and gas to supply Europe with what it needs in light of the global circumstances. He also promised Germany’s participation in reactivating some Factories stopped in Libya whenever a safe environment is available for interested companies in the country.