Deputy CEO Helmy Tatanaki spoke to Energy Capital & Power, tackling pivotal topics such as Libya’s ambitious two million barrels per day target, innovation strategies, and the reintegration of foreign investors into the Libyan market.

How does Challenger contribute to the government's goal of producing two million barrels per day and what role will technology, especially sustainable innovation, play?

As a private, family-owned business, Challenger is well-positioned to support Libya's production capacity expansion. We are augmenting our services by acquiring additional rigs and expanding our scope of oil field services in our portfolio, to meet the increasing demand.

Our focus on sustainable innovation involves collaborating with a top-five global oil company to reintroduce their services in Libya. Beyond drilling, we are addressing shortages in various oil services, investing in training Libyans, and integrating foreign expertise. This approach ensures not only technological advancement but also contributes to Libya's economic growth.

What is your message to potential investors considering Libya?

Libya is on a positive trajectory in terms of regulatory frameworks, safety, and repatriation of funds. We are actively partnering with recognized international companies to localize oil services and products, utilizing Libyan resources and foreign technology. This strategic collaboration aims to promote economic sustainability and growth in Libya.

Investors should recognize Libya as a secure and evolving market, offering substantial opportunities for investment and business development.