(MENAFN) In a statement, the Libyan National Oil Corporation (NOC) announced that it reached a decision to renovate the North Hamada oilfield.
Libya's NOC confirmed that "a technical team held a workshop on May 20 to discuss proposals submitted for the development of the field."
Nafusah Oil Operations (NOO) is the new Joint Operation Company (JOC) formed by NOC, Medco International Ventures Limited (MIVL) and the Libyan Investment Authority (LIA).
Through upgrading and developing the oilfield, it is suggested that the capacity of producing oil will be boosted while performance will be considerably enhanced.
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