Brighton architects get recession relief from Libya

Brighton and Hove’s architecture firms have received an unusual helping hand through the recession – from Libya.

Construction projects in the oil-rich North African state have boomed since the end of UN sanctions in 2003 and designers from the city have emerged as the favoured choice.

They have been commissioned for a string of major developments, including mosques, schools and hotels, which have kept jobs secure in Brighton and Hove as the UK economy collapsed.
The unlikely link was originally forged by LCE Architects, based in Western Road, Brighton, the firm behind Brighton’s Jubilee Library.

It has since spread to involve Camillin Denny, based in New England Street, and DRP Architects, the firm behind the refurbishment of the Birdcage Bandstand.

Nick Lomax, LCE’s managing director, said: “It started in 2002, when we had a Britishtrained Libyan architect working for us who suggested we should look into possibilities there, so we did.”

Since then growth in Libya has been rapid, with the state now able to utilise the wealth from its oil and gas resources.

In the past eight years Mr Lomax’s 55-strong practice has designed a series of buildings in Libya, including a central mosque, ten faculty buildings for the Al Fateh University in the capital Tripoli and the prototype for new schools to be built across the country.

Mr Lomax said: “There are fantastic opportunities there, some exciting work, and it has been good for our practice. We couldn’t have predicted the credit crunch would happen but now it seems it was a very good decision.”

Camillin Denny, which has recently unveiled plans for a redevelopment of Medina House on Hove seafront, has worked on a series of Libyan projects since 2006.

They include a new heritage museum and university buildings in Tripoli as well as master plans for town redevelopments and a beach resort on the Mediterranean.

Director Mark Camillin said: “It has helped us to survive the downturn. We employ 40 architects in Brighton and we’ve managed to keep going because of the work there.

“There is a strong tie between Brighton and Libya. A lot of Libyans come here to learn English and have a lasting like of the city.”

He added that while the economies of Abu Dhabi and Dubai had faltered, slowing the number of projects taking place there, Libya remained financially strong.


Source: The Argus. theargus.co.uk

My picture on LBBC website

I am pleased to announce that this picture was chosen by the Libyan British Business Council to be used for its website and it’s placed on the main page. Although I am not a professional photographer but I think the picture a good presentation for business in Libya.

To see the original picture please see my page at Flicker and Panoramio.

The Libyan British Business Council (LBBC) is an organisation based in London and promoting British businesses to the Libyan market and it runs sometimes events on the Libyan market and arranging for missions to Libya, for more information please see their website http://www.lbbc.org.uk/

Libya's Ghanem not to attend OPEC meeting

According to the latest reports coming in and especially the one coming in from Reuters in which confirms what I have written before about the resignation of Mr. Shokri Ghanem.

Reuters stated that he will not be attending the upcoming OPEC meeting in Vienna and the reason is that he submitted his resignation and still waiting for a reply from the Libya authorities.

The main reason for him to resign according to Reuters is the dispute between Libyan and Verenex (Canadian Company) in which Libya was trying to buy the company and at the same time China was too trying to buy it and it led to Libya refusing to approve the deal for China.

The question now is who is going to replace him?

Sources: Reuters and Sahra Oil Consultancy

Libya expects $2bn FDI; eyes downstream oil industry

Libya is expecting nearly $2bn in new foreign direct investment, Libya’s Privatisation and Investment Secretary Dr. Mahumd Al-Ftise said yesterday druing ‘Libya Opportunity & Challenge III’ which was orgnised by The Middle East Association and held in London on 23th July 2009 and It has the full support of UK Trade and Investment, the Libyan British Business Council, the Tripoli Chamber of Commerce, the Libyan Businessmen’s Council, the People’s Bureau of Libya in London and the British Embassy in Tripoli.

“We have over $2bn operating in FDI in Libya and we have almost $2bn in process,” Mahmud Al Ftise said on the sidelines of a Libya investment conference in London, without giving a time frame for the investment.

“This number is humble but we are really relaxed because the numbers are increasing. Libya has very big potential.”

Libya is also working on attracting investment totalling around $2.7bn in the downstream oil industry, Al Ftise added.

International investors see huge untapped potential for growth in the North African country, which was starved of investment during years of socialist policies and international sanctions.
Libya’s relations with the West took a leap forward in 2003 when it gave up banned weapons programmes and again last year when it agreed with the United States to settle compensation claims for attacks, including the 1988 Lockerbie airliner bombing.

Gaddafi’s foreign-educated son, Saif Al Islam, has helped push through economic reform measures, and the capital is now dotted with construction cranes building new hotels and business centres. But some investors’ enthusiasm has been tempered by red-tape, a creaking bureaucracy and uncertainty over how well protected property rights are in Libya.
Foreign investors complain of obstacles such as restrictions on visas.

Al Ftise said Libya was beginning to introduce visas for investors on arrival at Libyan airports, rather than from individual embassies.

“That is starting now, we are hoping it will come in probably after a month,” he said.
However, he said relaxation on visas was a two-way process with countries such as Britain.
“If you ease things here, we will ease things there.” Libya has privatised more than 100 companies since 2003 in industries including oil refining, tourism and real estate, of which 29 are 100 percent foreign owned.

The oil and gas sector still dominates the economy and is the destination for most foreign investment. BP and Exxon Mobil are among the international oil majors active in the sector.
Libyan banks are allowed to enter partnership agreements with foreign banks but the foreign partners are restricted to a

49 percent stake. Al Ftise said foreign investors can take 100 percent ownership in other sectors.

Abdulmagid el-Mansuri, Chairman of the Industry Ministry’s Foreign Investment Committee said that Libya was planning free trade zones for individual countries.

Source: Reuter and Sahra Oil Consultancy

ExxonMobil Commences Drilling Libya's First Deepwater Well

Exploration Company announced today that its affiliate, ExxonMobil Libya Limited, has started drilling the first deepwater exploration well in Libya. The A1-20/3 well is being drilled in Contract Area 20 (CA 20) located offshore in the Sirte Basin, northeast of the city of Misrata, in the Libyan Mediterranean Sea.
The rig, contracted from Noble Africa Limited and named the Noble Homer Ferrington, is capable of operating in water depths up to 7,200 feet (2,195 meters), and can drill to a depth of 30,000 feet (9,144 meters). It is designed for high efficiency and safety, and is able to operate in many global deepwater environments.

Phil Goss, President of ExxonMobil Libya Limited, said, “ExxonMobil has a long and successful history of working in Libya, where we previously operated as Esso and Mobil.

“We are pleased to start drilling our first deepwater exploration well in Libya based on the rigorous technical work conducted by our Libyan National and expatriate scientists, and in collaboration with the National Oil Corporation (NOC) to progress our exploration program.”
ExxonMobil has an unwavering commitment to operations safety and integrity and to protecting the environment. These core values are embedded in the way we work and implemented globally through our management systems. ExxonMobil has a proven track record of operating to the highest industry standards in all aspects of our business.

Elsewhere in Libya, ExxonMobil Libya Limited has completed two 3D seismic surveys in offshore Contract Areas 20 and 21, and three 2D seismic surveys in offshore Contract Areas 44, 20, and 21.

Libya hopes Verenex buy will not take long

Libya's plan to buy Verenex Energy Inc should not take long and it is well-placed to finance the deal, the country's most senior energy official said on Thursday.

Libya has said it will exercise its right to pre-empt a friendly C$10-a-share bid for Verenex from China National Petroleum Corp (CNPC) . It has yet to make a formal offer.

"Sometimes it's very difficult to give an exact time-frame, but I hope it will not take long," Shokri Ghanem, the chairman of Libya's National Oil Corporation, told Reuters television.

"Libya has quite a good fund," he said. "Most of the funds are invested in cash and cash is the king now, so I don't think we'll have a big problem regarding finance for this deal."

Verenex holds promising oil assets in Libya, home to Africa's largest oil reserves which has attracted a wave of interest from oil companies after the end of international sanctions.

With the assumption of debt, the C$10 a share offer from CNPC is worth C$499 million, the companies said when it was announced on February 26. The stock was unchanged at C$8.95 as of 1827 GMT.

Ghanem has previously stated that Libya would offer the same price as the C$10-a-share agreed by CNPC. He did not specify a purchase price in his comments on Thursday.

He said Libya had chosen to buy Verenex for commercial reasons.

Source: Reuters

Meeting between NOC chairman & CEO of NOEX

Dr. Shukri Ghanem, chairman of Libya's NOC, met on Monday 20th April 2009 with Mr. Makoto Koseki President and CEO of NOEX, meeting was also attended by Mr. Ali Saleh NOC's General Manager, Mr. Azzam Ali Elmesallati Members of the Management Committee and Mr. Khalifa Ben Gharbia chairman of the management committee of Nippon in Libya.

During the meeting both parties discussed various subjects with regard to the mutual interests between NOC and NOEX and the progress of merger between two Nippon Oil companies. They, furthermore, discussed the exploration projects which are undergoing by Nippon Libya in which the company announced the successful completion of the seismic operation and the start of drilling in its first well on 15th April 2009.

Since the execution of the Exploration and Production Sharing Agreement in 2005 in which NOC has 92% and the remaining belongs to the Japanese company , NOEX has been conducting exploration activities in Libya, the company won, in the 2nd round, a sharing agreement onshore for Area 2 Blocks 2-1/2 and 40-3/4 about the city of Sabratha. NOEX is working with Japex Libya.

Source: NOC