Tag Archives | oil production

Libyan Oil Production “Highest in 5 Years”

By John Lee. Libyan oil output recovered sharply last year, according to a report from Platts. It quotes National Oil Corporation (NOC) chairman Mustafa Sanalla as telling a Chatham House event on Tuesday: “We achieved our highest production and revenue levels for the past five years … with $24.4 billion transferred to the Libyan Central […]

Additional Capacity Added at Faregh Oilfield

By John Lee. Waha Oil Company (WOC), a subsidiary of the National Oil Corporation (NOC), has completed preparations on another horizontal well in the Faregh oil field ahead of the planned start of second-phase experimental gas production by the end of the first quarter of 2019. Initial tests indicate that the B B-14-59 well is […]

Libya “Plans to more than Double Oil Output”

By John Lee. Libya reportedly plans to more than double its oil production by 2021. According to Reuters, National Oil Company (NOC) chairman Mustafa Sanalla told a news conference that output would reach 2.1 million barrels per day (bpd) if security and stability are strengthened. Current output is around 953,000 bpd, less than its pre-civil […]

NOC Records Highest Annual Revenue since 2013

The National Oil Corporation (NOC) recorded an average production of 1.107 million barrels per day in 2018 and total revenues of 24.4 billion USD – a five year high and 78% year-on-year increase. NOC chairman, Eng. Mustafa Sanalla presented the 2018 financial data and NOC subsidiary plans for the coming year during a press conference […]

Libya breaks 2018 Monthly Oil Revenue Record

The National Oil Corporation (NOC) declares that October income from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts, was 2.87 billion USD – the highest year-to-date monthly total of 2018. This represents an increase of 1.21 billion USD (+73%) from the September figure. 2018 total projected […]

Libyan Oil Production Highest Since 2013

By John Lee. Oil production in Libya has reached its highest level since 2013, according to the Chairman of the National Oil Corporation (NOC). Mustafa Sanalla (pictured) told Bloomberg that output recently hit 1.278 million barrels per day, and can be increased by “hundreds of thousands” of bpd with improved security. (Source: Bloomberg)

Sirte, Hariga Blockade Costing Libya $67m/day

National Oil Corporation (NOC) chairman Mustafa Sanalla has met with the new US Charge d’Affaires to Libya, Mr Joshua Harris. Mr Harris took up the post succeeding Ms Stephanie Williams, who was appointed by the United Nations Secretary-General Antonio Guterres as Deputy Special Representative for Political Affairs in Libya. The two parties discussed recent events […]