Libyan Petroleum Corporation Invites Private Sector to Invest in Marginal Fields

Introduction

The Board of Directors of the Libyan Petroleum Corporation has approved an invitation for the Libyan private sector to invest in marginal fields. This strategy aims to increase oil production and develop untapped fields.

Investment Proposals

The Council of the National Institution of Libya has demanded that investment proposals be tendered, following the standards of transparency and equal opportunity. After a comparison and technical evaluation, the proposals will 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. These fields are operated by the Acacus and Al-Fil companies, owned by Mellita oil and gas company. Production had previously stopped for several days.

Appreciation to Oil Workers

In a brief statement, the ministry expressed gratitude to the workers at the Sharara fields, as well as all oil fields and ports, for their efforts in continuing production activities.

Source

Source: Libyan event

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Robin Jackson is the editor-in-chief at 24PalNews. As an editor and author who covers business and finance, Robin shares the latest business news, trends, and insights with his extensive audience.

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