Our source has obtained correspondence from the head of the Supervisory Committee at Waha Oil Company regarding a request from the head of the National Oil Corporation (NOC) for an urgent and comprehensive review of contracts with foreign workers hired on a daily-wage basis.<\/p>\n\n\n\n
The review is intended to reassess the company\u2019s actual operational and technical requirements after data showed that around 409 foreign workers are currently employed at a monthly cost of approximately LYD 39 million, bringing the estimated annual cost to around LYD 468 million.<\/p>\n\n\n\n
The Supervisory Committee recommended reducing the number of foreign workers by at least 60%<\/strong>, bringing the target workforce down to approximately 164 workers<\/strong>.<\/p>\n\n\n\n Under the proposed reduction, the expected cost would fall to around LYD 23.4 million per month<\/strong>, or approximately LYD 280.8 million annually<\/strong>.<\/p>\n\n\n\n This would generate estimated annual savings of around LYD 187.2 million<\/strong>.<\/p>\n\n\n\n The committee recommended retaining only the positions and specializations that the company can demonstrate are genuinely required based on its operational and technical needs.<\/p>\n\n\n\n It also called for the preparation of a clear implementation plan<\/strong> for reducing the foreign workforce and for the company to submit the results of the measures taken to the National Oil Corporation.<\/p>\n\n\n\n The review is intended to ensure that foreign expertise is used where it is genuinely necessary while creating greater opportunities for qualified Libyan personnel.<\/p>\n\n\n\n The figures have also raised concerns over the limited use of Libyan engineering and technical expertise within the company.<\/p>\n\n\n\n The proposed measures would place greater emphasis on identifying qualified Libyan personnel who can fill positions currently occupied by foreign workers, while maintaining specialized foreign positions where the company can demonstrate a genuine operational need.<\/p>\n\n\n\n The proposed reduction could therefore combine cost savings with greater workforce localization<\/strong>, provided that the transition is supported by appropriate training and workforce planning.<\/p>\n\n\n\n If the proposed reduction is fully implemented, Waha Oil Company could reduce its estimated annual foreign-labor expenditure from LYD 468 million to LYD 280.8 million<\/strong>.<\/p>\n\n\n\n That would result in estimated savings of approximately LYD 187.2 million per year<\/strong>.<\/p>\n\n\n\n The next step is for the company to conduct the requested review, establish its actual staffing requirements, and submit a clear plan to the National Oil Corporation outlining the proposed workforce reductions and the positions that must be retained.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Waha Oil Company employs around 409 foreign workers at an estimated annual cost of LYD 468 million. A supervisory body has called for an urgent review and a 60% reduction in foreign labor.<\/p>\n","protected":false},"author":13,"featured_media":258296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":2,"footnotes":""},"categories":[2],"tags":[613,614],"class_list":["post-258316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-libya","tag-oil"],"acf":[],"yoast_head":"\nReview of Operational and Technical Needs<\/h2>\n\n\n\n
Greater Reliance on Libyan Engineers<\/h2>\n\n\n\n
Potential Annual Savings of LYD 187.2 Million<\/h2>\n\n\n\n