Head of Libya’s Presidential Council meets oil investors in New York
September 2019 – The Head of the Libyan Presidential Council Fayez Al-Sarraj has met in New York with officials from several US oil firms and investment companies on the sidelines of his visit to the United Nations to attend the General Assembly meetings.
Al-Sarraj previewed challenges that have faced the Libyan oil sector since after the revolution in 2011 as oil production dropped sharply due to bad security and political conditions.
“We are, however; working to increase production rates and we hope to reach two million barrels a day.” Al-Sarraj remarked.
He indicated that such meetings would have enriching effects on the Libyan economic development vision as oil is the main source of economic growth in the country.
He told the oil investors and firms’ representatives that the Libyan authorities are working on fixing the legislations and the work environment to encourage investors to do work in Libya’s oil sector.
“The Government of National Accord is hoping to expand strategic cooperation with Washington to include economic and development projects. We call on all US companies to take part in investment opportunities in energy, infrastructure and reconstruction projects in Libya.” Al-Sarraj indicated.
Reporting by: The Libya Observer