NOC and Repsol Consortium Sign Sustainable Development Agreement

Monday, March 11, 2019

Libyan state-run oil and gas firm, National Oil Corporation (NOC), and a number of its international partners in the industry have signed a new agreement. The agreement, signed with partners Repsol, OMV, Total, and Equinor, known as the ’Repsol Consortium’, is in support a series of sustainable development projects essential for residents adjacent to sites operated by NOC subsidiary Akakus.

The $20-million fund agreement will support projects in Ubari, Sebha, Zintan, Jado, Al Riyayna, Yefren, Al Rujban and Zawia over the next two years. NOC says the agreement demonstrates a joint commitment to raising living standards and support for all regions and communities nearby oil and gas operations.

Examples of projects to be implemented include:

• Potable water infrastructure in El Wadi and Al Jabal municipalities – including drilling of wells, installation and maintenance of new and existing water reservoirs, and the delivery of well pumps;
• Support for the Zawia Diabetes Treatment Centre;
• A cultural institution, capacity building center, and training institute in Ubari;
• Youth assistance programs, including maintenance of the Al Wafa club in Ubari;
• NOC-led training programs for young entrepreneurs focused on teaching young professionals how to maintain various engineering equipment.

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