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Thursday, January 26, 2023
The National Oil Corporation (NOC) reports that its daily oil production reached 1.2 million barrels per day (bpd) on January 25, slightly down from the 1.213 million bpd reached on December 15. At that time Oil Minister Mohamed Oun stated that the country is hoping to return to 2010 levels within two or three years, which was 1.6 million bpd.
Meanwhile, NOC head Farhat Bengdara told Al-Masar, that the company had reached a deal with Eni to develop two offshore areas that could produce 850 Mmcf/d of natural gas. Oun added that the deal would be formalized shortly, valued at $8 billion dollars. According to an AFP report, however, Eni declined to comment on the report.
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