Wilton Resources Inc V.WIL

AI Knows

[DoctorMoreau]

Libya's National Oil Corporation (NOC) plans to launch an oil and gas licensing round in early 2025. The round will be the first in almost 20 years and will focus on fields in the Sirte, Murzuq, and Ghadames basins. The goal is to attract foreign investment, increase oil production, and re-establish Libya as a major player in the global oil market. 

 

Here are some other details about the licensing round:

• Production goals

  Libya aims to increase oil production to two million barrels per day and natural gas production to four billion cubic feet per day within three to five years. 

   
• Investment

  Libya is investing $17–$18 billion to develop 45 projects, including greenfield and brownfield projects. 

   
• Interest

  More than 30 companies have already shown interest in Libya's marginal assets. 

   
• Gas monetization

  Libya is also working to diversify its revenue by monetizing its natural gas, which is a critical source of energy for Europe. 

   
• Security

  Libya has seen political instability since the fall of Moammar Qadhafi in 2011, which has often disrupted oil production. 

[stoptheleyes]

Very encouraging for companies to get into Libya however if 30 companies have shown interest that might be a little to competitive for little ol Wilton. Good Luck

[willyrun3]

At least we have had a little volume last few weeks.......