Libya’s National Oil Corporation (NOC) has no time to lose. With the energy transition gaining momentum by the day, there is a real possibility that Libya’s vast oil and gas reserves end up staying in the ground. That’s potentially hundreds of billions in lost revenues for a country which is almost entirely reliant on hydrocarbons.
With the dust barely settled from Libya’s third civil war since 2011 and last year’s devastating oil blockades (MEES, 25 September 2020), NOC is looking to kickstart a fresh wave of foreign investment to reach its ambitious goal of boosting output to 2.1mn b/d by 2025. (CONTINUED - 1629 WORDS)