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عين ليبيا
Libya's $36B to boost oil output
Libya is working on an ambitious plan to increase oil production to two million barrels per day by early 2031, targeting investments of up to $36 billion to develop oil fields and facilities. After approving its first unified budget since the country's division in 2013, the National Oil Corporation was able to restore funding and overcame its financial deficit. This has enabled the implementation of projects to restart and develop dormant fields, including the North Jalo field, which aims to produce 100,000 barrels daily. Libya also intends to attract foreign investments worth $16 billion and to boost production to 1.5 million barrels per day by mid-2027, continuing efforts to rehabilitate the oil sector and strengthen its position among Africa’s leading oil producers.
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