18 Hrs
Source:
Sky News
Libya aims for $40 billion in oil investment
Libya is aiming to attract between $30 billion and $40 billion in investments to develop its unexplored oil and gas resources, with the goal of increasing its oil production to two million barrels per day by 2030, up from the current 1.4 million barrels. The head of the National Oil Corporation pointed out that there are more than 60 fields that have yet to be exploited. However, the challenges facing development include a lack of funding, political division, and concerns regarding governance and transparency. While the goal of increasing production remains ambitious, it is considered realistic, especially given that Libya holds the highest proven oil reserves in Africa and is attracting major international companies to invest.
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