Bengdara explained that the increase in production will occur gradually, according to the approved timetable. He also highlighted that the National Oil Corporation, in collaboration with the Ministry of Oil and Gas, is working to bring international oil companies back to operate in Libya by contributing to production expansion projects and plans. Noc is carrying out various projects to increase oil production in the country that is a member of the OPEC oil cartel from the current 1,2 million barrels per day to 1,4 million barrels per day by the end of 2024, and then rise to 2 million barrels during 2025. Last week, a subsidiary of Noc – Al Waha Oil Company – managed to increase its production by 3 barrels per day, from October 220. The country, in fact, imported around 14,5 million tonnes of crude oil, down by 3,3 percent compared to the same period in 2023.

Source: Libya Today June 10, 2024 08:26 UTC