Libya has moved a step closer to expanding its oil production after declaring a 195-million-barrel discovery by Austrian energy company OMV commercially viable, marking another milestone in the North African countrys efforts to revive its upstream sector with the help of international oil majors

Libya has declared OMV’s 195-million-barrel Essar oil discovery commercially viable, advancing its strategy to revive production and attract international investment.

Libya has moved a step closer to expanding its oil production after declaring a 195-million-barrel discovery by Austrian energy company OMV commercially viable, marking another…

Libya’s National Oil Corporation (NOC) announced Friday the discovery of a new oil field, named the “Eassar,” with estimated reserves of about 195 million barrels and an expected …