TUNIS, Nov. 20 (Xinhua) -- Libyan oil companies on Monday expressed the hope to cooperate with their Chinese counterparts to increase production and further develop the industry. Noting "China has great achievements in the oil and gas sector" Abdulhadi Abugnima, workover superintendent at the Libyan National Oil Corporation (NOC), said his company is eager to work with major oil companies to increase Libyan oil and gas production and to also bring down operational costs by using new technologies. Ghaith Bashir al-Firjani, head of the Well Drilling and Maintenance Department of Libya's Al-Waha Oil Company, said: "We seek to make sure that Chinese companies play a role in the Libyan oil sector, as this would create good competition in the sector." However, the sector has suffered over the past years from armed conflict and oil field and port closures. In November last year, Libya's Minister of Gas and Oil Mohamed Aoun announced that Libya is seeking to increase oil production to 2.1 million barrels per day and natural gas production to about 4 million cubic feet per day over the next five years.

Source: Libya Today November 20, 2023 23:35 UTC