Libya: NOC Agree to Unify – Offficial Press Release

Mustafa Sanalla, chairman of the National Oil Corporation of Libya, and his counterpart appointed by the government in Bayda, Nagi el-Maghrabi, today agreed to unify the National Oil Corporation.

Mr Sanalla will continue as NOC chairman and Dr el-Maghrabi will join the NOC board.

“There is only one NOC, and it serves all Libyans,” said Mr Sanalla. “This agreement will send a very strong signal to the Libyan people and to the international community that the Presidency Council is able to deliver consensus and reconciliation. I’m sure it will now build on this success to bring unity and stability to other government institutions.”

“We made a strategic choice to put our divisions behind us and to unify and integrate NOC as directed by the House of Representatives and the Chairman and Members of the Presidency Council,” said Dr el-Maghrabi. “There is no other way forward. This is for the good of Libya.”

The agreement recognizes the Presidency Council as the highest executive authority in the country, and the House of Representatives as the highest legislative authority. NOC will submit periodic reports to committees established by both authorities.

In the agreement, NOC undertakes to ensure Libya’s oil wealth is for all Libyans and all Libyans must benefit from it without exception, in accordance with the guidance issued by the House of Representatives and its President.

The two sides jointly agreed a unified budget for the remainder of the current financial year, and took steps to address any imbalances resulting from the period of division.

The agreement makes infrastructure rehabilitation a priority, especially in the city of Benghazi in preparation for the relocation of NOC’s new headquarters. The parties expressed a strong desire that the NOC board should meet regularly in Benghazi in the interim if security conditions permit.

2 July 2016

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