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Libyan oil output could reach 1.4 million b/d if security holds: NOC Chairman

The Address | Benghazi – Libya

BAKU – Libya’s crude oil production has recovered to 1.2 million b/d but the OPEC producer has the ability to increase output to 1.4 million b/d this year “if the security situation remains stable” the chairman of state-owned National Oil Corporation told S&P Global Platts Tuesday.

In an interview after attending Monday’s OPEC/non-OPEC monitoring committee meeting in Baku, Mustafa Sanalla also said NOC is stepping up efforts to develop upstream activity in the country as it hopes to attract more foreign investment in the coming years.

Since the toppling of former leader Muammar Gaddafi in the 2011 civil war, Libya’s beleaguered industry has frequently been at the mercy of groups vying for control of valuable oil assets, with armed attacks on key pipelines and production facilities.

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