Continental Focus, International Reach

Libya Aims to Double Production

Wednesday, January 9, 2019

Despite security issues disrupting production occasionally, Libya is still set on its production goals. The government aims to more than double its oil flows over the next two years.

Mustafa Sanalla, chairman of NOC, said that the country’s is looking to hit 2.1 million bpd by 2021, provided security and stability are strengthened in the North African country.

Currently Libya produces 953,000 bpd, Sanalla said at a news conference in Benghazi.

At the press conference Sanalla reiterated calls for workers’ security to be improved to allow production to resume at the Sharara oil field, which was taken over on December 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 previously.

“What happened in Sharara discourages foreign companies,” said Sanalla.

He also confirmed the upcoming return of BP to Libya along with Russian companies, without giving further details.

Improved security conditions in the Sirte Basin in central Libya will enable the launch of production at the Farigh gas field at 24 Mmcf/d output goal of 270 Mmcf/d, Sanalla said.