Distribution
Posted By OrePulse
Published: 05 Dec, 2024 12:23
Libya to open new oil exploration licenses in 2025
The Ministry of Oil and Gas is set to launch a new round of oil exploration licenses in early 2025, according to a report by Energy Media Platform. The initiative aims to boost oil production and strengthen the nation’s economy.
The new licenses will focus on the Sirte, Murzuq, and Ghadames basins, regions considered among the most hydrocarbon-rich in the country. Despite their potential, these areas remain largely untapped, the report highlights.
Estimates suggest that the Sirte and Murzuq basins account for 93% of Libya's recoverable reserves, with the Murzuq Basin alone holding approximately 5 billion barrels of oil equivalent.
Related Articles
World Bank Backed Fund targets solar energy projec...
09 Sep, 2024 13:34
Libya oil exports plunge as NOC cancels cargoes du...
12 Sep, 2024 08:31
Caterpillar introduces groundbreaking dynamic ener...
18 Sep, 2024 07:42
Saudi Arabia strikes $1 bln deal as aluminum drive...
18 Sep, 2024 09:03
Egypt and Petronas Discuss Expanding LNG Investmen...
19 Sep, 2024 13:00
6 Regional Banks Transforming Africa’s Oil & Gas I...
20 Sep, 2024 13:00
Giyani Metals advances battery-grade manganese dem...
30 Sep, 2024 09:20
Middle East tensions spike oil prices, but surge w...
01 Oct, 2024 07:59
Uganda receives first batch of line pipes for EACO...
01 Oct, 2024 09:21
UAE: OPEC+ doing 'noble' job of balancing oil mark...
02 Oct, 2024 09:15Trending News
Generation
Kuwait prepares for peak summer with energy storage and solar initiatives...
06 May, 2025 12:32
6 min read
Energy
Ghanas oil woes deepen as investors shun sector for fifth year running...
06 May, 2025 12:29
4 min read
Precious Metals
AngloGold, Gold Fields pause Ghana JV as gold soars...
06 May, 2025 12:16
0 min read