Chairman of the Libyan Investment Authority Statement on NOC Unification

8 July 2016, Tripoli:

AbdulMagid Breish, Chairman of the Libyan Investment Authority (LIA) in Tripoli, said:

“I welcome the announcement confirming the unification of the National Oil Corporation. This is another example of the progress that Libya is making, and is a positive step towards returning Libya’s crude oil production to its maximum level.


“We at the LIA in Tripoli are also taking steps to reconcile our differences with the parallel group based in Tobruk, and to resolve the dispute around who is the rightful leader of the LIA. Discussions are ongoing with representatives of the GNA, and I understand that the Tobruk-based group is considering its position.


“The LIA in Tripoli remains committed to playing a part in our country’s revival by establishing Libya as a fertile ground for investment, and ensuring a bright and prosperous future for Libya and its people.”




Notes to Editors:

On 3 April 2016, the LIA in Tripoli welcomed the establishment of a new internationally recognised Government of National Accord, and extended its congratulations to the Libyan people for achieving reconciliation.

The Libya Trade and Investment Forum will take place in London on Monday 24 October 2016. The Forum will connect international investors and businesses with opportunities in Libya, and discuss potential co-investment opportunities with the private sector on key infrastructure and business projects. It will be hosted by the LIA in conjunction with the UK Middle East Association.