Libya’s first oil field licensing round since the removal of Muammar Gaddafi as leader in 2011 has seen a slew of major Western international oil companies (IOCs) choose to either re-enter the country after a long absence or bolster their existing operations in a stunning success for Tripoli. As part of the National Oil Corporation’s (NOC) target of lifting oil production to 2 million barrels per day (bpd) by 2028, it announced last year that 22 offshore and onshore blocks would be licensed in the initial bidding round. Perhaps the…
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