Decision No. 544 of 2023 Approving Oil Field Development Agreements

Prime Minister approves development agreements for three oil fields (Al-Tahara, Al-Sultan, Al-Latif) between the National Oil Corporation and Arkenu Oil Services in partnership with Pars Holding SE Switzerland. The decision took effect immediately upon issuance on 29 November 2023.

This signals operational progress in Libya's upstream sector despite political fragmentation. The involvement of Arkenu Oil Services (a private operator) alongside a Swiss-registered partner demonstrates that development contracts are being executed outside the traditional IOC model. Foreign service providers and specialized oilfield contractors should note this as evidence of deal flow in development/production enhancement segments, though execution risk remains high given NOC's operational and financial constraints.