He added during the United Nations Climate Conference (COP28) that the company hopes to increase oil production by 100,000 barrels per day by the end of 2024, in addition to the current 1.3 million barrels per day.
He also pointed out that a bidding round for exploration areas could include offshore and onshore oil and gas fields, however, the number of areas has not yet been decided.
“We see a lot of interest… I cannot mention names, but American companies, European companies, companies from the Far East,” Ben Guedara said.
He added that foreign investment is necessary because the country’s resources are limited, and that the National Oil Corporation is looking to make investment more attractive to foreign companies.
“It has to be a win-win situation,” he said.
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