Libya plans to more than double oil output to 2.1m bpd – NOC

Libya aims to more than double its oil production to 2.1 million barrels per day (bpd) by 2021 provided security and stability are strengthened in the conflict-stricken country, the chairman of state oil company NOC said on Sunday in Benghazi.

Currently, Libya produces 953,000 bpd, less than its pre-civil war capacity of 1.6 million bpd, Mustafa Sanalla said at a news conference.

He reiterated calls for workers’ security to be improved to allow production to resume at the 315,000 bpd El Sharara oil field, which was taken over on Dec. 8 by tribesmen, armed protesters and state guards demanding salary payments and development funds.

Production is expected to be up to 11,000 bpd lower when it restarts after the seizure due to looting, NOC said last week.

Source: Arab News



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