Libya Seeks $3-4 Billion Investment to Boost Oil Production to 1.6 Million BPD
2025-01-18
Reuters
Libya is seeking an investment of $3-4 billion to increase its oil production to 1.6 million barrels per day. According to the acting oil and gas minister, Khalifa Abdulsadek, this significant investment will be a crucial step in enhancing the country's oil output. A new license bidding round is expected to be approved by the cabinet by the end of January, which will be a major opportunity for oil and gas companies to participate in Libya's oil production growth. With the aim of boosting its oil production, Libya is taking significant steps to attract foreign investment and increase its presence in the global oil market, including oil exploration and production activities.
