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Libya Targets 100kbd Production Increase 2023: NOC

OIL

Libya's state-owned NOC plans to boost crude production by 100,000 b/d by the end of the year according to a senior NOC source speaking with Argus.

  • It would take production to about 1.3mn bpd, up from a current 1.2mn bpd – a capacity stuck at since mid-2022.
  • Most of the 100,000 b/d increase would come from restarting shut-in wells and boosting power production at fields.
  • NOC has set up a strategic planning office in a $16.9bn bid to raise capacity to 2mn b/d within a three-to-five year time frame.

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