INSUBCONTINENT EXCLUSIVE:
years.This goal represents a substantial increase from current levels, which have already risen to over 1.4 million barrels per day
To achieve these ambitious targets, Libya is focusing on brownfield development and local investment.The National Oil Corporation plans to
launch new bidding rounds and open tenders for exploration and production
However, challenges remain
The country needs significant investment, estimated between $3 billion and $4 billion, to reach its production goals.Dr
Abdulsadek emphasized the importance of balancing accessible energy with a sustainable transition to cleaner sources
This approach aligns with global trends towards more sustainable energy practices.As Libya pursues these plans, its success could have
far-reaching implications for global oil markets and regional economic development
