84 Days
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بوابة الوسط
Oil and Investment Sign Agreement with UCC Holding to Share Production in Ghadames Basin
The National Oil Corporation and the Libyan Investment Authority signed an agreement with Qatar's UCC Holding Group, aimed at exploring and sharing oil and gas production in the Ghadames Basin. The agreement seeks to increase the area's production to approximately 80,000 barrels per day of oil, in addition to utilizing associated gas for power generation, with full participation from the investor financing the project. The plans include implementing exploration and development programs to enhance hydrocarbon potentials, achieve the highest safety and efficiency standards, all with the goal of supporting the national economy and developing Libya's oil and gas sector.
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