Libya needs between $30 billion and $40 billion in investment to develop its oil and gas resources, the Financial Times reported, citing National Oil Corporation Chairman Masoud Suleman.
Suleman said the country has more than 60 discovered oil and gas fields that remain undeveloped and is targeting production of 2 million barrels per day by 2030, up from about 1.4 million currently. Funding shortages have delayed projects, prompting the corporation to consider deals requiring foreign investors to cover more upfront costs.
"We are suffering from [a] lack of funds, and this is delaying our development projects dramatically," Suleman was cited as saying.
https://breakingthenews.net/Article/Libya-said-to-target-dollar40B-oil-investment/66937155
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