Oil and economic expert Abdulmonsef Al-Shalwi said: “I believe that the meeting between the National Oil Corporation (NOC) and the management of SLB (formerly Schlumberger) carries important implications that go beyond merely discussing financial obligations. It reflects a mutual understanding that the continuity of international oilfield service companies is a fundamental element in sustaining production and achieving the sector’s targets during the coming phase.”
He continued: “SLB is not merely a company providing conventional operational services; it is one of the world’s largest oilfield technology and services companies, possessing advanced expertise in reservoir engineering, drilling, well evaluation, production optimization, digital transformation, and geological data management. These fields have become an integral part of the modern oil industry.”
Al-Shalwi explained that, in Libya’s case, the presence of companies of this scale and expertise is of even greater importance, particularly as the National Oil Corporation seeks to maintain current production levels, increase output, and reactivate several delayed fields and projects. This requires a stable operating environment and long-term technical partnerships with specialized international companies.
He added: “From this perspective, addressing financial obligations through clear mechanisms and agreed timelines should not be viewed merely as a financial settlement. Rather, it should be considered part of a broader framework aimed at preserving investment confidence and strengthening the credibility of Libya’s oil sector among international service and contracting companies. This directly contributes to accelerating project implementation, ensuring operational continuity, and reducing operational risks.”
Al-Shalwi further noted that the messages emerging from the meeting send positive signals to markets and international partners, indicating that the National Oil Corporation is addressing challenges with an institutional approach and working to ensure a stable business environment that preserves Libya’s position as one of the region’s leading oil producers.
He concluded: “In my view, continued close cooperation between the National Oil Corporation and leading global service companies, particularly SLB, will represent an important pillar in supporting production growth plans, improving field operational efficiency, and maximizing the benefits of hydrocarbon resources. This will serve the national economy and enhance the sector’s ability to achieve its strategic objectives in the coming years.”
