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Libya plans to increase oil, gas production to 2 mln barrels per day over next 3 years

  • Libya's National Oil Corporation plans to increase oil and gas production to 2 million barrels per day over the next three years if funding is secured.
  • Bashir Carea stated that Libya has 48 billion barrels of discovered but unexploited oil, with total potential estimated at 90 billion barrels.
  • The country's oil production has exceeded 1.41 million barrels per day, nearing its long-term target of 2 million barrels per day.
  • Sulaiman emphasized the need for more investors and technology to develop Libya's vast natural gas reserves of 122 trillion cubic feet.
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