The chairman of the board of the Libyan National Oil Company (NOC), engineer Massoud Suleiman, stated at the opening of the NOVA conference and exhibition that Libyan oil production had exceeded this year 1.4 million barrels per day, its highest level since 2013.
The official explained that this progress resulted from the efforts by the NOC and its subsidiaries to restore idle fields, drill new development wells, complete several projects, maintain wells, and improve infrastructure.
Massoud Suleiman also stressed that Libya possesses significant oil potential, the country holding the largest proven oil reserves on the African continent. He also highlighted the exploration potential of Libyan sedimentary basins, notably the Sirte Basin, as well as the country’s strategic position on the Mediterranean.
He finally stated that the National Oil Company would continue its efforts to achieve its short-, medium-, and long-term objectives in the oil and gas sectors. These objectives also include diversifying energy sources, reducing gas flaring, developing natural gas transport infrastructures, and bringing international companies back into Libyan oil fields.
