Libya seeks $40bn in investment to develop oil and gas fields
Libya is seeking to attract between $30 billion and $40 billion in investment to develop its untapped oil and gas resources, as it works to boost production and restore its standing among the world's major crude producers, the Financial Times reported, citing Masoud Suleman, chairman of Libya's National Oil Corporation.
Suleman told the newspaper that Libya holds substantial resources that have yet to enter development, pointing to more than 60 discovered oil and gas fields that remain unexploited.
The investment push comes as Libya seeks to raise oil output and draw on undeveloped reserves, at a time when the economy remains heavily dependent on oil and gas revenues.
