Libya has approved the development plan for 24 oil fields in the 9.86 billion

 Libya, owner of the world's largest reserves of crude oil in Africa, will invest 12.1 billion dinars ($ 9.86 billion) in development and the development of 24 oil fields to increase production of "black gold".

National Oil Corp will work with public companies, as well as foreign firms, which are already present in the country "without the participation of new parties" to implement this plan, the government said North African countries. Project will be financed through loans to local banks.

Libya, which is a member of OPEC, is trying to increase oil production to 3 million barrels per day by 2013 from 1.8 million barrels per day produced in the present. 5 billion barrels of oil in the country are not used, because such deposits is difficult to develop, and they are remote. This represents about 12% of all oil reserves of Libya.

In the government's plan includes an increase in production at the field Djalo to 100 thousand barrels per day with an investment in the project 1,6 billion dinars, the report said. Another 1.3 billion dinars will be invested in exploration activity in the field Nafoora to 130 thousand barrels per day.

Production from these fields has declined after the American companies have left the country in 1986 against the backdrop of accusations the government of Muammar al-Gadhafi of supporting terrorism, according to the management of Energy.

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