Together, the lifting of these sanctions are aimed at opening the way for the country to realise the still high potential of its oil and gas sector so that it can build a robust economy that is, according to the sanctions removal order: “stable, unified and at peace with itself and its neighbors”. However, following the 30 June and 1 July removal of sanctions on Syria by the U.S., American firms including Baker Hughes, Hunt Energy, and Argent LNG are working to revitalise the country’s oil, gas and power sector, according to a senior source working in the European Union’s security complex. The firm’s executive vice president for gas and low carbon, William Lin, stated that the agreement, “reflects our strong interest in deepening our partnership with NOC and supporting the future of Libya’s energy sector.” In the meantime, Shell is focused on exploring development possibilities for the Atshan oil field and other NOC-owned assets.
Author: Simon Watkins
Published at: 2025-08-19 22:00:00
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