Libya’s National Oil Corporation (NOC) has announced a significant achievement, with the country’s crude oil and condensate production exceeding its 2024 target by 22,000 barrels per day (bpd). The total daily output reached 1.403 million barrels as of early December, marking the highest production levels since 2013.
The increase reflects sustained efforts by the NOC and its subsidiaries to restore and optimize oil field operations, supported by substantial government funding and technical advancements. Notably, this accomplishment is part of Libya’s broader strategy to increase production to 2 million bpd by 2027, reinforcing its role as a key oil exporter in the global market.
The achievement is attributed to consistent operational improvements across major oil fields and the resolution of technical issues that previously hindered output. The NOC emphasized the importance of uninterrupted financial and operational support in maintaining this momentum.
The surge in production aligns with Libya’s strategic energy goals and highlights its potential to attract increased foreign investment. At the recent COP28 summit, NOC Chairman Farhat Bengdara reported strong international interest from American, European, and Asian companies in the country’s energy sector.
This milestone underscores Libya’s commitment to regaining its pre-conflict production capabilities, contributing significantly to its economic recovery and stability in the volatile global energy market. For further insights into Libya’s oil production strategies and ongoing projects, visit Libya Herald and Energy Capital & Power
