Atwasat

National Oil Corporation aims to produce 1.6 million barrels per day by the end of 2019




Alwasat - Cairo Tue 29 Jan 2019, 09:44 PM
alwasat radio

The head of Ras Lanuf oil and gas company, Shaaban Besebsu, said the National Oil Corporation aims to produce 1.6 million barrels per day of oil by the end of this year.

In an interview with S&P Global Platts on the sidelines of the thirty-seventh forum of the Japan Petroleum Cooperation Center, Besebsu said on Monday that the Foundation had allocated a budget to improve and develop the oil sector to reach the pre-2011 level estimated at 1.6 million barrels daily.

He pointed out that the planned development and improvement aimed at the lower stages of the oil and gas industry, which are refining and distribution, adding that Libya currently produces about one million barrels of oil per day, but aims to increase production to 1.6 million barrels this year after overcoming technical and security challenges.

"We are trying to achieve this but we have a lot of security problems facing us," he said. "We have a plan to reach more than two million barrels of oil per day by 2020."

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