The Libyan government hopes it can attract British companies to invest in its renewable energy projects, which would enable the country to exploit its solar and wind power for export to Europe.
A renewable energies bill, which sets out the regulations for the sector, is currently being considered by the parliament in Tripoli. Libya’s solar radiation levels in the desert and strong winds along its coast and mountains are among the world’s highest.
The divided country is also working on major reforms to its oil and gas institutions. In March, it launched its first oil and gas exploration licensing round in 18 years.
Masoud Sulaiman, chairman of the National Oil Corporation, announced this week that it will work with the British business intelligence and reporting firm Oxford Business Group (OBG) in its upcoming bidding rounds.
“The NOC is working to ensure that Libya’s energy sector is open, competitive and governed by clear rules. The upcoming bidding round represents a practical step towards sustainable growth and stronger partnerships with global investors,” he said. “Working with Oxford Business Group allows us to present these efforts through an independent and credible platform,” he added.
Oliver Cornock, OBG's global editor-in-chief, said efforts to reform Libya's institutions – which were fractured by civil war – gave investors the sense the country was “heading in the right direction”.
“There is unification and co-ordination around
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