NOC aims to lift oil output to 1.45 million bpd by end of 2021, Sanallah says

NOC aims to lift oil output to 1.45 million bpd by end of 2021, Sanallah says

March 09, 2021 - 22:54
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Written By: AbdulkaderAssad

The Chairman of the Libyan National Oil Corporation (NOC) has revealed plans for increasing oil production in the coming years.

Sanallah told Bloomberg TV that the NOC was working toward lifting oil output to 1.45 million barrels per day (bpd) by the end of 2021 and to 1.6 million bpd in two years as well as 2.1 million bpd in the four coming years.

He said his plans include operating new fields in Ghadames and Sirte and reopening the fields that and been damaged by the consecutive conflicts since 2015.

Sanallah linked the increase and development of oil production operations to receiving a large budget to repair the infrastructure, reiterating the need for peace and security for the operations to go on normally.

"Now Libya produces 1.3 million bpd after the output was almost zero last September. The NOC must remain independent and away from political work in the country." Sanallah added.