The National Oil Corporation (NOC) has announced plans to draft a 3-5-year operational strategy aimed at increasing oil production, with the goal of reaching 2 million barrels per day by the end of next year.
According to the NOC, Chairman Farhat Bengdara instructed the preparation of the plan during a Saturday meeting with the board of directors and department heads.
The initiative focuses on creating a clear roadmap to achieve long-term objectives and aligning the strategies of the corporation’s subsidiaries with operational goals.
The meeting also addressed enhancing production gradually through advanced technologies, improving operational efficiency, and modernizing institutional processes to meet global demands.
Libya’s current oil production stands at approximately 1.3 million barrels per day.
Attendees emphasized maximizing resource utilization and equipping the Strategic Programs Office with tools and resources to ensure effective strategy execution.
The NOC reiterated its aim to strengthen Libya’s position in regional and global markets while adapting to shifts in the global oil sector.
