Libya Set to Announce Multi-Billion Dollar Investment in Waha Oil Complex
Libya’s National Oil Corporation (NOC) is preparing to unveil a massive investment in the Waha oil complex, the country’s most productive upstream asset, sources confirmed today. The announcement, expected imminently, could involve several billion dollars in funding aimed at significantly boosting output from the complex.
The Waha complex, comprising 13 oilfields, has the potential to produce up to 700,000 barrels per day and represents Libya’s most strategic oil asset. This planned investment directly supports Libya’s ambitious target of raising national oil production from approximately 1.4 million barrels per day today to 2 million barrels per day by 2030.
The timing coincides with heightened global energy demand and Libya’s ongoing licensing round launched earlier this year, offering production-sharing contracts across 22 onshore and offshore blocks. The recent prequalification rounds have attracted strong interest from major oil companies including Chevron, TotalEnergies, Eni, OMV, and Repsol.
Source: Upstream Online
