Libya is planning to launch a new auction for marginal fields later this year as part of a national strategy to boost crude production to 2mn b/d by the end of the decade, NOC officials said at an industry event on 2 July.

The auction will cover more than 40 smaller fields – both producing and non-producing – with expected output ranging between 5,000 b/d and 20,000 b/d, NOC board members explained during the Libya Energy Conference in London. (CONTINUED - 294 WORDS)

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