The Chairman of the National Oil Corporation (NOC) Farhat Bengdara announced the start of developing the strategic plan for the oil and gas sector in Libya, adding in a meeting with the oil companies in Benghazi that the plan focuses on 4 important pillars: the structure of the NOC, capacity building, young graduates and sector's workers, and developing the workers' capabilities.
Bengdara added that the second goal of the plan focuses on increasing production to 2 million barrels per day (bpd), explaining that it is possible in terms of the availability of space, while the third goal will focus on gas and its importance, indicating that it will last longer than oil in the next stage as an energy source, and will last longer than oil as an important component of energy generation.
Bengdara indicated that there is no self-sufficiency in gas, saying that the gas they have is used in electricity and some factories such as iron and cement, adding that the availability of gas requires efforts in exploration and development despite its abundance. He said investment must be made to compensate for the decline that will occur in 2025.
Bengdara said that the American company “Kearney”, which is one of the leading companies in the field of consultations in oil and gas, was selected to manage the plan, in addition to establishing an office under Bengdara's supervision.
He also pointed out that the first draft of the strategic plan will be discussed in mid-March, adding that they are discussing energy production from renewable sources in addition to selling gas to Europe.