Sanallah: Libya aims to increase oil output by 2021 to 2.1 million bpd

January 7, 2019

The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah said Libya aims to increase its oil production to 2.1 million barrels per day (bpd) by 2021 from 953,000 bpd currently.

According to Reuters, NOC’s Chairman said on Sunday in a news conference in Benghazi that reaching the 2.1 million bpd target hinges on improving security conditions in the country.

Sanallah also reiterated his calls for ensuring the security of workers to allow for the resumption of production at Sharara oil field, which was closed on December 08 last year by tribesmen, armed protesters and state guards demanding salary payments and development funds.

Libya’s oil output has been on the rise over the last period and contributed to many developments in the country’s status quo, especially the foreign currency reserves and the economic reforms approved by the Presidential Council last September.