Libya aims to keep oil output at 1.2 mln bpd in 2022, NOC's Sanalla says

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.

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 Corp. 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.

Libya's overall budget, and the budget for the NOC, have been subject to intense political disputes over the past year involving the Government of National Unity, the eastern-based parliament, the central bank, the oil minister and Sanalla. Last year NOC closed output at several fields for weeks over what it said were budget concerns that were later resolved after talks with the government.

 

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