Ali Mahmoud Hassan, Chairman and CEO of the Libyan Investment Authority (LIA), held a meeting at the LIA’s Tripoli headquarters last Tuesday (2 June) with Ashraf Al-Maamari, Chairman of the OQ Group.
The meeting follows the activation of the MoU signed last Monday (1 June) between the LIA and OQ Exploration and Production, in the presence of Prime Minister and Chairman of the LIA’s Board of Trustees, Abdel Hamid Aldabaiba.
The meeting focused on monitoring the practical steps for implementing the MoU’s provisions and discussing cooperation priorities and projects of mutual interest.
The meeting addressed the future work plan and coordination mechanisms between the two parties to ensure the MoU’s provisions are translated into practical and implementable projects, thereby strengthening the investment partnership between the two parties in the oil, energy, and joint investment sectors.
Ali Mahmoud Hassan emphasized that this partnership represents a significant strategic step in the cooperation between the LIA and OQ. He affirmed that the LIA looks forward to developing sustainable cooperative relations based on the exchange of expertise and the enhancement of joint investment opportunities, which will achieve long-term economic returns and support the shared interests of both parties.
He also explained that the next phase will witness intensive work at the level of technical committees and specialized teams from both sides to develop executive programmes and identify economically viable projects, in preparation for moving to the actual implementation phase according to clear timetables.
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