Libyan crude production stood at 940,000 b/d in August, according to the latest Platts survey of OPEC output. Libyan crude oil production has reached a five-year high, yet further increases depend on stabilizing security and foreign investment, according to chair of state-owned National Oil Corporation (NOC), Mustafa Sanalla. The country is currently producing 1.28 million bpd and wants that figure to reach two million by 2022. NOC is talking with several global oil firms about increasing production and investing, such as France's Total which previously agreed to buy a share of the Waha concessions for $450m. Libya also needs more investment in its energy sector, especially in gas pipelines, said Sanalla, who added that he expects Libya's output from offshore fields will increase to around 2 billion cubic metres ( b@@ ’s headquarters recently attacked and two employees killed.
Libyan crude oil production has reached a five-year high, yet further increases depend on stabilizing security and foreign investment, according to chair of state-owned National Oil Corporation (NOC), Mustafa Sanalla. The country is currently producing 1.28 million bpd and wants that figure to reach two million by 2022. NOC is talking with several global oil firms about increasing production and investing, such as France's Total which previously agreed to buy a share of the Waha concessions for $450m. Libya also needs more investment in its energy sector, especially in gas pipelines, said Sanalla, who added that he expects Libya's output from offshore fields will increase to around 2 billion cubic metres (b@@ ’s headquarters recently attacked and two employees killed.