Thu, 19 May 2022

Libya mulling increasing oil production for 2022

Xinhua
20 Jan 2022, 16:30 GMT+10

TRIPOLI, Jan. 20 (Xinhua) -- Libya's state-owned National Oil Corporation (NOC) is considering its plans for 2022, including the increase of oil production and reserves, NOC Chairman Mustafa Sanalla said on Wednesday.

Sanalla made the remarks during a speech following a series of the meetings of its 28 subsidiary or related companies held in the capital Tripoli and the city of Ras Lanouf, reported local media.

"The meetings discussed plans for 2022, including increase of oil production and reserves, as well as safety plans inside the Corporation's locations against accidents and the COVID-19 pandemic, and programs for the maintenance and rehabilitation of the oil infrastructure," he said.

The average daily oil production in 2021 was 1,206,000 barrels per day, Sanalla said, adding that production in January 2022 dropped to 946,000 barrels per day as a result of maintaining damaged pipelines.

The 2022 plans include major maintenance works to a number of oilfields damaged by armed conflict and terrorist attacks, as well as maintaining an average daily production of 1.2 million barrels per day, he said.

Oil and gas represent one major source of Libya's revenues. Yet the sector has suffered over the past years from armed conflict and closures of oil fields and ports.

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