State-owned Oil India Ltd is looking to resume its operations in the block Area 95/96 in Libya in the next financial year, an official source told FE. The company had suspended its operations in the block since May 2014 under force majeure clause, following the civil unrest in the African country. However, with the easing of the situation, Oil India expects to restart its operations in the block soon. The block has been under force majeure due to hostile law and order situation in Libya. The company also sees its annual production of oil growing to 4 million tonne in FY25.

Source: Libya Today February 21, 2024 20:45 UTC