Free Industrial NewsLibya to Increase Oil Production Over Next Four Years
Libya to Increase Oil Production Over Next Four Years
Industry Segment: Production | Word Count: 132 Words
NEW DELHI--April 22, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Despite nearly a decade of turmoil, Libya, one of the largest hydrocarbon reserve holders in North Africa, seems to be back in the game with an average production rate of more than 1.3 million barrels per day (BBL/d) since November 2020. With several new fields opening up and the restart of fields that were shut-in, Libya's National Oil Corporation expects to increase daily production to 1.45 million BBL/d by the end of 2021, to 1.6 million BBL/d within two years and to 2.1 million BBL/d within four years.
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