The Chair of the Libyan National Oil Corporation (NOC), Mustafa Sanalla, said that Libya can increase its oil production to 3 million barrels per day.
Sanalla added, during his meeting with the supervisory authorities, that this production can be reached, provided that the oil sector is modernized and its dilapidated structure is maintained.
He warned of the complete collapse of the oil sector if urgent budgets were not allocated to it.
Sanalla revealed that NOC has accumulated debts of more than 6 billion dinars (about $1.2 billion), explaining that some oil companies were unable to pay salaries for more than 4 consecutive months.
NOC Chair called on the directors of companies and departments at the Corporation, to join efforts to preserve the oil sector from collapse and to ensure the progress of the production process.