Libya’s National Oil Corporation (NOC) in Tripoli has issued new licences for oil exploration and production to several foreign companies. The licences are the first of their kind in nearly two decades and aim to revive the country’s energy sector.
Among the winning bidders are major global firms, including Chevron, Eni, and QatarEnergy, as well as Nigeria’s Aiteo. Officials said the move is part of efforts to increase Libya’s daily oil production by hundreds of thousands of barrels.
Also Read: Israel Reopens Rafah as Fragile Gaza Ceasefire Holds
Acting NOC chairman Masoud Suleiman Musa said the decision follows improvements in the country’s security situation. The government hopes the licences will attract long-term investment and rebuild infrastructure damaged by years of conflict.
Leave feedback about this
You must be logged in to post a comment.