Northwest Africa needs $ 7 bn to develop oil fields

Feb 14, 2002 01:00 AM

The Libyan Minister of Oil, Abdul-Hafidh Al-Zulaitny, stated that Northwest Africa needs $ 7 bn worth of investments to develop its local oil sector over the next five years. These investments will be used to increase oil field exploration operations, to develop existing oil fields and to modernize the existing oil refineries in the region.
The Libyan minister added that these investments are not currently available in north-western Africa, and thus, must be injected into the region by international enterprises.

Source: Al-Bawaba
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