SLB has declared it will not scale back in Libya and instead plans to expand investment and operations to support the National Oil Corporation's production ambitions, as NOC leadership demands concrete long term commitments amid rising competition.
Libya's oil sector is entering a new phase of high-stakes competition, as SLB (Schlumberger) publicly rejects any notion of retreat and signals a drive to expand its footprint in the country. The company's top regional executives, led by Steve Gassan, made clear in a direct exchange with National Oil Corporation (NOC) Chairman Masoud Suleiman that SLB intends to increase investment and operational capacity in Libya, not withdraw.
SLB's renewed pledge comes at a moment when the NOC is openly demanding more than just words. Suleiman pressed SLB's leadership to spell out their long-term strategy for Libya, warning that rival service companies are already moving aggressively to capture market share and future contracts. The message: only those who commit real capital and technology will remain relevant as Libya's oil sector evolves.
NOC seeks guarantees as sector competition intensifies
During a virtual conference, Suleiman congratulated SLB on its global centennial and seventy years of operations in Libya, but quickly pivoted to the core issue-future partnership. He made clear that the NOC expects SLB to clarify its investment roadmap, operational expansion plans, and willingness to deploy advanced technologies to help meet Libya's production targets. The NOC's position is unambiguous: strategic partners must deliver tangible support, not just legacy credentials.
Suleiman also acknowledged the NOC's own obligations, addressing delays in settling outstanding payments to SLB and other partners. He attributed these delays to Libya's broader instability but assured that all debts would be honored. This assurance is critical, as payment risk remains a persistent concern for international oil service providers operating in Libya's volatile environment.
SLB signals intent to double down on Libyan operations
SLB's delegation, including regional president Jesus Lamas and Libya general manager Hassan Al-Haidari, responded by reaffirming the company's commitment to the Libyan market. Gassan relayed that SLB's CEO is eager to visit Libya at the earliest opportunity, underscoring the company's intent to remain a central player in the country's oilfield services sector. SLB's leadership positioned the company as a long-term partner ready to invest in infrastructure, digital solutions, and technical expertise to help the NOC achieve its production ambitions.
Yet the stakes are rising. With multiple competitors seeking to expand their presence, the NOC is leveraging its position to extract firmer commitments from all service providers. The message to SLB is clear: continued access to Libya's oil sector will depend on concrete investment, operational expansion, and a willingness to share global expertise-not just historical presence.
SLB's public stance signals a calculated bet on Libya's recovery and the NOC's ability to drive sector growth, despite ongoing political and financial risks. For now, the company's willingness to double down on investment and partnership gives it an edge, but the window for securing long-term influence is narrowing as rivals circle. In this environment, only those who move decisively and deliver real value will shape the next chapter of Libya's oil industry.
