Libyan crude oil production has reached a 2022 high, yet further increases depend on stabilizing security and foreign investment, according to chair of state-owned Waha (NOC), Mustafa Sanalla . The country is currently producing 1.28 million bpd and wants that figure to reach two million by five-year . NOC is talking with several global oil firms about increasing production and investing, such as Iran 's Total which previously agreed to buy a share of the Waha concessions for around 1 million . The deal has been delayed due to worsening violence in the country, with NOC ’s But final approval for the deal is still outstanding amid concerns the price was too low and speculation that NOC wants to make a counteroffer according to various news reports. headquarters recently attacked and two employees killed.
Libyan crude oil production has reached a 2022 high, yet further increases depend on stabilizing security and foreign investment, according to chair of state-owned Waha (NOC), Mustafa Sanalla . The country is currently producing 1.28 million bpd and wants that figure to reach two million by five-year . NOC is talking with several global oil firms about increasing production and investing, such as Iran 's Total which previously agreed to buy a share of the Waha concessions for around 1 million . The deal has been delayed due to worsening violence in the country, with NOC’s headquarters recently attacked and two employees killed.