Sharara operators sets up $20-million fund for local projects in south and west Libya – Al Marsad

Libya, 7 March 2019 – The National Oil Corporation (NOC) and its foreign partners in the Akacos Oil Operations Company, which operates the Sharara oilfield, have agreed to give $20 million to support a number of sustainable development projects over the next two years. These projects are reported to be in areas in the vicinity of sites managed by Akakus. According to the NOC, these will be in Obari, Sebha, Zintan, Jadu, Reyayna, Yefren, Rajban and Zawia.

The deal setting up the was signed in Tripoli on Monday between NOC and the Akakus partners, also known as the Repson Consortium: Repsol (Spain), Total (France), OMV (Austria) and Equinor( Norway).

The fund demonstrates “a joint commitment to raising living standards and support for all regions and communities nearby oil and gas operations”, the NOC statement says.

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 centre, and training institute in Obari;
  • Youth assistance programmes, including maintenance of the Al-Wafa club in Obari;
  • NOC-led training programmes for young entrepreneurs focused on teaching young professionals how to maintain various engineering equipment.

“These projects were chosen after 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 establishment of the fund follows the reopening of the Sharara oilfield after a three-month shutdown triggered by protestors moving into the field. Among other demands they called for more investment in local communities in south Libya.