Libya’s National Oil Corporation (NOC) on 5 December called on IOCs with exploration and production contracts in the country to return and “lift the force majeure declared by them.”
Libya’s chaotic political trajectory since the 2011 ouster of Muammar Gaddafi has made many IOCs wary of fully engaging in the country which holds the largest proven oil reserves in Africa some 48.3bn barrels according to Opec. (CONTINUED - 679 WORDS)
