Libya's National Oil Corporation (NOC) announced on Wednesday that its daily crude production rose to 1.203 million barrels.

The also NOC indicated that condensate production amounted to 47,000 barrels during the past 24 hours.

Earlier this week, NOC Chairman Farhat Bengdara said that investment in the Libyan oil sector has been suspended since 2008, pointing out that Libya is capable of producing two million barrels of crude per day if conditions stabilize and budgets are available.