Masood Suleiman, chairman of the Libyan National Petroleum Corporation, said that Libya needs up to 40 billion US dollars of investment in oil field development to restore its status as one of the largest oil producers. He said Libya's “ambitious but realistic goal” is to increase crude oil production from about 1.4 million barrels per day to 2 million barrels per day by 2030. Suleiman added that the country has discovered more than 60 undeveloped oil and gas fields.

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