US Oil Services Giant Weatherford Resumes Operations in Libya
American oilfield services company Weatherford International has officially resumed its operations in Libya after more than ten years of suspension, in a significant step forward for the country's energy sector recovery.
The announcement came during a meeting in Tripoli between Weatherford's Deputy CEO Richard Ward and the Chairman of Libya's National Oil Corporation (NOC). Ward confirmed that Weatherford has already restarted providing services to Libyan oil companies, operating from its new headquarters in the Hay Al-Andalus district of the capital.
Ward stated that the company is fully prepared to deliver comprehensive technical and field services at the Jalu 59 oilfield. He emphasised Weatherford's readiness to support the Libyan energy industry with its expertise and advanced oilfield technologies.
Expressing the company's commitment to long-term cooperation, Ward reaffirmed Weatherford's intention to work closely with Libyan oil institutions and maintain the highest standards of service delivery across all operations.
This move marks a key milestone in Libya's efforts to revitalise its oil and gas infrastructure, which has suffered setbacks due to years of conflict and instability. Tags: libyanocoiltripoliusWeatherford
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Libya Review
2 days ago
- Libya Review
Italian-Libyan Chamber of Commerce to Open in Benghazi
The Italian-Libyan Chamber of Commerce plans to open a new office in Benghazi to strengthen its cooperation with local business stakeholders, according to the Chamber's President Nicola Colicchi. Speaking to Italy's Nova news agency, Colicchi emphasized that the initiative aims to foster stable partnerships between Italian and Libyan small and medium-sized enterprises (SMEs). 'We are working in close harmony with Libyan institutions,' he noted, adding that the goal is to create a collaborative business environment that facilitates knowledge and technology exchange and supports outreach to African markets where Libya is already active. Benghazi to Host Italian-Libyan Economic Forum The announcement comes as Benghazi prepares to host the Italian-Libyan Economic Forum from 24 to 27 June, with the participation of Italian companies seeking expansion opportunities in Libya. Colicchi stressed that economic development is a critical pathway to achieving political stability in Libya. 'When local communities start benefiting from an integrated economy, it helps heal internal political divisions,' he said. He also voiced support for holding swift national elections, calling for a strong economic development push alongside diplomatic efforts to reunify the country. Italy Reinforces Presence Amid Global Competition Ettore Rosato, Vice President of the Italian-Libyan Parliamentary Friendship Group, stated that bolstering Italy's presence in Libya is crucial in the face of strong international competition. 'Italy must strengthen its ties with Libya to avoid losing more influence to competitors like Turkey and Russia,' Rosato warned. In a sign of growing bilateral engagement, the Italian Consulate General in Benghazi recently hosted a Republic Day celebration attended by over 450 guests, including Libyan officials, institutional representatives, and business leaders. Francesco Saverio De Luigi, the Italian Consul General in Benghazi, noted a sharp rise in Italian activity in eastern Libya, citing the issuance of over 4,000 visas in 2024 and the resumption of direct flights to Rome as evidence of normalization and renewed cooperation. Italy's Ambassador to Libya, Gianluca Alberini, reaffirmed that Italy remains Libya's top trading partner, with bilateral trade surpassing €8.6 billion in 2024. He also welcomed the reintroduction of Italian language courses in Libyan public schools and the allocation of 100 scholarships to Libyan students by 2025—the highest number across Italy's entire diplomatic network. Tags: benghaziItalian Chamber of CommerceItalylibya
Libya Review
2 days ago
- Libya Review
180,000 E-Wallets Launched in Libya Since January
The Central Bank of Libya (CBL) has announced the distribution of 56.5 billion Libyan dinars to commercial bank branches across all Libyan cities between January 1 and May 31, 2025. According to a detailed report published on the bank's official Facebook page, this disbursement comes as part of the national financial management strategy aimed at ensuring liquidity across the banking sector. The report revealed that a total of 1,235,503 cheques were processed through the electronic clearing system over the same period, with a combined value of 58.1 billion dinars. These transactions were executed via 711 bank branches and clearing centers across the country. Digital Transactions on the Rise The bank also reported a steady increase in digital financial services. The total number of activated e-wallets reached 180,941, with a combined transaction volume of 49.9 million dinars. In addition, the number of point-of-sale (POS) terminals rose significantly during the first five months of 2025, reaching 98,602 compared to 76,356 at the end of 2024. This reflects an increase of 22,246 POS devices nationwide, indicating growing reliance on cashless payment systems. ATM Activity and Card Usage The number of activated bank cards stood at 5,012,979, with these cards facilitating 10,582,461 ATM transactions. The total value of withdrawals and transactions conducted via ATMs reached 6 billion dinars. The CBL emphasized that these indicators reflect an ongoing shift towards electronic banking and digital financial inclusion across the country. Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations. Libya's economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya's economy. The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions. The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition. Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
Libya Review
2 days ago
- Libya Review
Libya's Parliament Speaker Praises Reconstruction Fund's Unprecedented Achievements
Libyan Speaker of the House of Representatives, Ageela Saleh, praised the accomplishments of the Libya Development and Reconstruction Fund during a meeting held to mark Eid al-Adha. The meeting was attended by the Fund's Director General, Belgassem Haftar, and the Prime Minister of the Libyan government, Osama Hammad. According to an official statement issued by the Fund, the discussion focused on reviewing completed and ongoing development projects across several Libyan cities, with attention to future initiatives planned for the months ahead. During the meeting, Ageela Saleh commended the Fund's work, describing its achievements as 'unprecedented' and emphasizing their significant impact on multiple Libyan regions. He noted that the Fund's efforts have contributed to job creation, infrastructure upgrades, and urban renewal — outcomes that are crucial for restoring stability and improving daily life in war-affected communities. The Speaker reaffirmed his full support for the Development and Reconstruction Fund, stressing the need to maintain transparency and ensure balanced implementation of projects throughout the country. He called for continued cooperation between national institutions to align reconstruction efforts with public needs and long-term growth goals. Haftar and his team reiterated their commitment to executing the Fund's projects efficiently and to the highest standards. The leadership affirmed that work would continue across housing, healthcare, transport, and public service sectors in line with the development framework endorsed by parliament.
