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Libya’s NOC plans to keep oil output at 1.2 million bpd in 2022

Libya’s NOC plans to keep oil output at 1.2 million bpd in 2022

Libya plans to keep oil output at 1.2 million barrels per day (bpd) in 2022, Mustafa Sanalla, the chairman of the state-owned National Oil Corporation (NOC) told a news conference on Wednesday in Tripoli.

NOC hopes it will be able to increase output further if it secures additional budget, he said, adding that the company plans to bring on stream this year two new fields that would add nearly 18,000 bpd to capacity.

Sanalla said he was seeking a 2022 budget for NOC of 31 billion dinars ($6.7 billion), which he said would allow Libya to raise oil output to 1.4 million bpd.