Libyan Petroleum Corporation Invites Private Sector to Invest in Marginal Fields to Boost Oil Production

Libyan Petroleum Corporation Approves Private Sector Investment in Marginal Fields

The Board of Directors of the Libyan Petroleum Corporation approved the invitation of the Libyan private sector to invest in marginal fields, in a strategy to increase oil production and develop open untapped fields.

National Institution of Libya Calls for Transparent Investment Proposals

In its statement, the Council of the National Institution of Libya demanded that investment proposals be tendered, taking into account the standards of transparency and equal opportunity, and that the proposals, after comparison and technical evaluation, be sent to the National Institution for approval.

Resumption of Production at Sharara Fields

In mid-July, the Libyan Oil Ministry announced the resumption of operation and production at the Sharara fields, operated by the Acacus and Al-Fil companies, which are owned by the Mellita oil and gas company, after production stopped for several days.

In a brief statement, the ministry thanked the workers at the two fields, as well as all oil fields and ports, for their efforts to continue production activities.

Source: event in Libya.

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