Libyan Central Bank Governor, Saddek Elkaber, met with the Chairman of the National Oil Corporation, Farhat Bengdara, to discuss efforts to increase oil and gas production and stability.
The National Oil Corporation has been working to increase oil production to two million barrels per day through operational and developmental plans. The latest statistics show that crude oil production reached 1.214 million barrels, while condensate production reached 18,000 barrels in the past 24 hours.
The meeting, held at El-Kaber’s office in Tripoli, reviewed the National Oil Corporation’s operational and developmental plan to increase production to two million barrels per day. The plan aims to increase production by developing new fields and increasing the efficiency of existing ones.
Farhat Bengdara has previously stated his goal of increasing oil production to two million barrels per day over the next three to five years. He has also pledged to review the NOC’s development projects to attract more foreign investment.
The increase in oil production could have significant economic implications for Libya, which relies heavily on oil exports. However, the country’s political instability and ongoing conflict could pose challenges to achieving this goal.