Legal expert in the oil sector Othman Al-Hdhiri told our source exclusively that the management of the National Oil Corporation periodically issues decisions forming negotiating committees with companies that can, at best, be described as weak, lacking the necessary experience and competence, and without an honorable track record in the oil industry.
He stressed that the prequalification of foreign companies seeking to engage in exploration and production activities in Libya’s oil sector is not a mere formal procedure, but rather a legal requirement and an essential safeguard for protecting Libyans’ wealth.
Al-Hdhiri explained that, under the law, no company may be permitted to conduct such activities or have its application accepted unless it demonstrates that it possesses the necessary financial solvency, competence, and technical expertise, in accordance with the applicable regulations and legislation.
He emphasized that any violation of or attempt to circumvent these requirements can only be described as a disregard for legal controls and an unlawful squandering of a sovereign national resource, opening the door to narrow interests at the expense of the public interest and the rights of the Libyan people.
Al-Hudairi added that granting any approvals in violation of the law, or bypassing qualification requirements and financial and technical capacity standards, places full legal responsibility on the officials involved and exposes anyone proven to have participated in such violations to the maximum penalties and sanctions stipulated by the applicable legislation.
Al-Hdhiri stressed that Libyans’ wealth is not a matter for personal favors or private deals, and that the oil sector cannot tolerate misconduct or favoritism. The law must be the ultimate arbiter, and the national interest must be the sole criterion.
