TRIPOLI – The two-day “Libya Summit – Oil, Gas and Sustainable Growth”, organized in collaboration with the National Oil Company (NOC), will kick off in Tripoli on Sept. 24. The event is expected to provide the chance for the international oil industry to network with the oil and gas sector in Libya. Speakers at the summit, include the current Oil and Gas Minister Abdulrahman Ben Yazza, NOC Chairman Nuri Berruien, Francesco Cammarata of Technip, Anwar Sassi (Energy Cities Development), Jahle Boee (Statoil ASA), Roberto Casula (ENI) and Abdulla Al Qadi (Crescent Petroleum). The event is being promoted as “the must-attend event for international investors wishing to connect with the key Libyan oil and gas decision makers” and the ”only event” with full participation of the NOC. Sessions will focus on topics such as investment, increased production, transport infrastructure, human resources and training, technology advances and sustainable development in the future. On the final day of the event, there will be a session titled “A new Petroleum Regime for Libya? Looking at Best Practice & Optimal Frameworks both Regionally & Global.” Sponsors of the forum include ENI, BP, Repsol, ConocoPhilips, RWE, Total and Maghreb. NOC said in a statement recently that Libya will generate $54.9 billion in revenue from oil and gas this year, roughly equivalent to 68.7 billion Libyan dinars. The forecast is based on an output of 1.35 million barrels per day, at an average price of $100 per barrel. The recent reopening of the Ras Lanuf Oil refinery will have a considerable impact on helping oil output to return to pre-revolutionary levels. When operating at full capacity, the refinery is thought to account for 58 percent of the country's oil output. Currently, the plant is running at half capacity. – Libya Herald
