Libya’s National Oil Corporation, NOC, is pushing hard to reach its previously set goal of 900,000 bbl/day before the end of the year.
Earlier, since when OPEC members representatives met in Algeria the last week of September Libya reached 363,000 bbl/day.
Al-Awami expressed his confidence in the country’s ability to quickly raise its output to 1.5m bbl/day if the government approves a proper budget to fund NOC operations. NOC is also working through judicial and political channels to reopen the 2 main fields in the south western region of the country, Al-Sharara (Operated by a JV with Repsol), and Al-Feel (Operated by a JV with Eni). Both fields have a total production capacity of 450,000 bbl/day, and their closure has caused the country a loss of $27B, according the NOC chairman, Mustafa Sanallah.
Source: Oil Price website
