BAGHDAD: Mustafa Sanalla, chairman of Libya’s National Oil Corporation, said the country’s oil minister does not have the authority to suspend him or dissolve the company’s board of directors.
“The minister of oil may not legally suspend me or refer me for investigation,” Sanalla told Bloomberg in an interview in Tripoli. “The Council of Ministers is the author of the decision and has the final say on this matter.”
Sanalla was suspended on Aug. 29 until the completion of an investigation into whether he violated ministry policy by traveling abroad without the necessary approval, Oil Minister Mohamed Oun told Bloomberg last week.
If the cabinet decided to change the board of the National Oil Corporation, he would have no problem with that, Sanalla said.
The disagreement between Sanalla and Oun would not affect the production of crude oil in Libya, he said.
The plan to raise Libya’s oil production to 1.4 million barrels per day from the end of this year to mid-2022 was postponed due to a lack of government funding to fix ailing oil fields, pipelines, and ports.
If the budget was available, Libya would be able to pump 1.6 million barrels a day by 2023, and 2 million in three years, Sanalla said.
The NOC is conducting studies in the Gallo field, which could contribute to an increase in Waha Oil Co. production by 100,000 barrels per day, he said.
The NOC would sign a contract with Petrofac Ltd. this week worth more than $100 million, Sanalla said.
