NOC: Libyan-Norwegian fertiliser venture to restart operations shortly
NOC: Libyan-Norwegian fertiliser venture to restart operations shortly.
TRIPOLI – The Tripoli-based National Oil Corporation (NOC) said on Saturday it had restored natural gas supply to LifeCo – the fertilizer joint venture it operates with Norway’s Yara, allowing the factory to resume work shortly.
In January, NOC announced it had suspended gas supplies to LifeCo, saying the venture owed it money.
“LifeCo shareholders have agreed on a number of measures to restore operational continuity and protect jobs, including the restoration of gas supply and NOC assuming control of the marketing of ammonia and urea fertilizer products,” NOC said in a statement.
He added that Houston will serve as a vital procurement and engineering hub for NOC to tap into the best expertise and technology in the market.
“We intend to expand our capability and use of cutting-edge R&D to ensure Houston becomes the focal point for the development of our oil sector. For our US partners, this office will become a gateway to new opportunities in Libya as we look to sustain and grow this sector integral to national economic development,” said the chairman.
Sanallah added that NOC’s strategy and plans could only proceed in the event of a full ceasefire, calling on the international community and United Nations to do all they can to end ongoing hostilities in and around Tripoli.