The Chairman of the National Oil Corporation (NOC), Farhat Bengdara, said on Tuesday that oil production is currently approaching 1.25 million barrels per day (bpd) and may increase to 3.4 million barrels per day, which is the level achieved in the 1970s.

Bengdara said during the International Energy Week activities in London, on Tuesday, that only 25% of the capacity of the pipeline that exports natural gas from Libya to Italy is currently used. He added that Libya will hold a tender to grant oil exploration rights at the end of 2024 or early next year, noting that there are indications that major companies will participate in the bidding.

He also indicated that the National Oil Corporation was mulling over the production of solar energy in cooperation with partners, for local use and possibly for exportation to Europe.