BusinessLibya

NOC signs $20 million agreement to set up projects for communities adjacent to oil sites

The National Oil Corporation (NOC) has allocated $20 million to set up sustainable development projects for communities adjacent to oil sites operated by NOC subsidiary Akakus.

The NOC signed on Monday a $20-million fund agreement with a group of international partners, including Repsol, OMV, Total, and Equinor, known as the “Repsol Consortium” to support projects in Obari, Sabha, Zintan, Jado, Alriyayna, Yefren, Alrujban and Zawiya Al Gharbia over the next two years.

“These projects were chosen after a careful study of the immediate regional needs and long term aspirations of local Libyan communities. We are proud to do our part in helping the local economy by providing local youth with the skills and training they need to create businesses and jobs,” said Khaled Bukhtwa, general manager of NOC’s General Department of Safety.

The projects include Potable water infrastructure in El Wadi and Al Jabal municipalities, supporting the Zawiya Diabetes Treatment Centre, a cultural institution, capacity building centre and a training institute in Obari, youth assistance programs, including maintenance of the Al Wafa club in Obari, and NOC-led training programs for young entrepreneurs.

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