Latest news with #WahaOilCompany
Libya Review
2 days ago
- Business
- Libya Review
Libya's Oil Sector Faces Huge Losses
Libya's oil sector has suffered significant financial losses exceeding $294 million during the first half of 2025, according to an investigative report by journalist Mohamed Al-Qarj, based on official data from the Libyan Attorney General's Office. The shocking report reveals that seven major cases of financial and administrative corruption have severely impacted the sector between January and June 2025. One of the largest violations involved Waha Oil Company, which awarded a procurement contract worth 769.9 million Libyan dinars (approximately $154 million) to a company named 'Amwaj Al-Sidra' in blatant violation of public procurement laws. In addition, $140 million was paid through letters of credit without proper legal authorization, while defective drilling equipment was delivered in March amid suspicions of collusion in purchasing operations. Other reported violations include fraudulent accommodation invoices for oil field workers amounting to 5 million Libyan dinars, and an inflated security contract valued at 8.2 million dinars, where prices were allegedly exaggerated by more than 70%. Despite the severity of these violations, the National Oil Corporation (NOC) has not issued any official statement or clarification regarding these contracts as of the end of June 2025. Al-Qarj described the sector as being 'drenched in corruption,' warning that such abuses jeopardize the stability of Libya's most vital economic resource. He called for immediate investigations and the prosecution of those involved in the scandals. Tags: Corruptionlibyanocoil
Libyan Express
27-06-2025
- Business
- Libyan Express
Waha Oil adopts Fiberspar technology at Al-Samah Field
BY Libyan Express Jun 27, 2025 - 20:40 Section of the 1,600-metre composite pipeline connecting well VV-28 to Al-Blat station Waha Oil Company has completed the connection of a newly drilled well (VV-28) to the Al-Blat station at the Al-Samah field, using Fiberspar composite pipeline technology. The project was implemented by the company's Engineering Department, in coordination with its Field Construction Division. The scope of work included the installation of approximately 1,600 metres of 4-inch diameter Fiberspar pipeline, laid in a trench excavated to a depth of 1.20 metres. The pipeline was connected at both ends—from the wellhead to the processing station. A non-return valve was installed at the manifold to prevent reverse pressure from the station back to the wellhead. Prior to backfilling the trench with soft sand, a hydrostatic pressure test was conducted using water to confirm the system's integrity and ensure safe operation. Fiberspar is a type of composite pipeline made of fibreglass reinforced with thermoplastic (typically polyethylene or similar materials). It is increasingly used in the oil and gas industry due to its lighter weight, corrosion resistance, and lower installation and maintenance requirements compared to traditional steel piping. Its use also contributes to reducing the environmental footprint of pipeline operations. Founded in 1955, Waha Oil Company is among the largest oil and gas exploration and production companies operating in Libya. The company manages several key fields, including Al-Samah, Dahra, and Gialo, and operates under a joint venture structure that includes Libya's National Oil Corporation and international partners. This project forms part of the company's ongoing strategy to modernise infrastructure, improve operational efficiency, and align with evolving industry standards in pipeline technology. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
