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Libya Needs 10-Years to Hit 3mn bpd - Oil Minister

OIL

Libyan Oil Minister Aoun said in an interview with Libyan tv "We need about 10 years to bring Libya's oil production to 3 million barrels per day”.

  • Production in Libya has recently returned to ‘normal’ levels of 1.2mn bpd after a change in National Oil Company management.
  • The Libyan Oil Minister confirmed that his country has 29 oil discoveries and 12 gas discoveries, according to a study conducted by the Ministry of Oil and Gas.
  • He blames the reluctance of foreign companies to work in the country as a prominent issue the sector faces.
  • Oil and government officials are currently in on-going discussions to try and ‘realistically’ raise Libyan oil production to 2mn bpd.
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Libyan Oil Minister Aoun said in an interview with Libyan tv "We need about 10 years to bring Libya's oil production to 3 million barrels per day”.

  • Production in Libya has recently returned to ‘normal’ levels of 1.2mn bpd after a change in National Oil Company management.
  • The Libyan Oil Minister confirmed that his country has 29 oil discoveries and 12 gas discoveries, according to a study conducted by the Ministry of Oil and Gas.
  • He blames the reluctance of foreign companies to work in the country as a prominent issue the sector faces.
  • Oil and government officials are currently in on-going discussions to try and ‘realistically’ raise Libyan oil production to 2mn bpd.