Libya’s oil output catapults reaching 670 thousand bpd

Libya’s oil output catapults reaching 670 thousand bpd

October 27, 2016 - 18:14
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Written By: AbdulkaderAssad

The head of the media office of the Libyan Tripoli-based National Oil Corporation (NOC), Mohammed Al-Maghribi, said in a statement that Libya has experienced a remarkable hike in oil production hitting 670 thousand barrels per day.

“That is all because the NOC has resumed work in some previously-shut oilfields.” Al-Maghribi added.

Another official at the NOC, Ibrahim Al-Uwami, said that Libya’s oil output is gradually ascending and will likely reach 1.5 million bpd once the budget needed for overhaul procedures in the oilfields and terminals is provided for the NOC.

“That would skyrocket our oil production in no time, coupled with reopening Al-Sharara and Al-Feel oilfields in the south.” Al-Uwami indicated.

Libya’s oil production has been steadily growing after the reopening of key terminals and oilfields and hence resumption of exportation.

Since 2013, Libyan oil production has been almost shut down due to lack of security, strikes at the oil ports and other political reasons.