Oil Minister says Libya aims to increase production to 4 million bpd
The Libyan Oil and Gas Minister, Mohammed Oun, said Libya aims to increase production to 4 million barrels per day (bpd) in one or two years at the latest, adding in an interview with French Radio Monte Carlo that Libyan oil sector and French firms have agreed on such an ambition in a visit for a Libyan government delegation to Paris.
The Oil Minister said they had briefed French oil firms, especially TOTAL, on the future plans that can achieve the aims of increasing oil production in Libya, confirming that no contracts had been signed, but only some agreements in place were revised.
He said French TOTAL has agreements with Libya and this helps both sides to restore some oilfields that have been destroyed in conflicts and get them up and running, referring to working on restoring Al-Mabrouk oilfield to produce 40.000 bpd.
"We aim to develop and repair oil facilities to allow Libya to have a bigger share on the global oil market." He added.
Meanwhile, the Libyan Prime Minister Abdul-Hamid Dbeibah visited France last week and expressed hopes that Paris would resume work on suspended projects, activating the Libyan-French joint committee that was shelved in 2002.