85 Days
Source:
عين ليبيا
New oil partnership to boost production of the "Area 47" field to 80,000 barrels per day
The National Oil Corporation of Libya has signed an exploration and production sharing agreement with UCC Holding Group in Area 47 in the Ghadames Basin. The agreement aims to invest in hydrocarbon potentials and increase production, raising the fields' output to approximately 80,000 barrels of crude oil per day, in addition to utilizing associated gas for electricity generation. The investor will be responsible for fully financing the project. The implementation of operations will be subject to technical studies and the approval of development plans to ensure the best returns for the government.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)