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Home Business

NOC invites Libyan private sector to bid for tenders to develop marginal fields

bySami Zaptia
August 14, 2023
Reading Time: 1 min read
A A
NOC announces force majeure at Zawia port

(Logo: NOC).

Libya’s state National Oil Corporation (NOC) announced yesterday that its Board of Directors had approved the decision to invite the Libyan private sector to invest in marginal fields.

The NOC said the decision came within the framework of its strategy to increase oil production and develop discovered and undeveloped marginal fields,

The Board of Directors called for a commitment to announcing a tender to request investment offers, in which the standards of transparency and equal opportunity are taken into account, and to refer the offers after comparison and technical evaluation for approval.

 

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A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

Op-Ed: Reputational Damage Is Worse Than Losing Money

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