Ashgabat, Turkmenistan – The Libyan National Oil Corporation seeks to increase oil production to 2 million barrels per day by 2025, while production currently stands at 1.2 million barrels per day.
Engineer Khalid bin Othman, Chairman of the Board of Directors of the Libyan Oil and Gas Council, said in a special interview during his participation in the International Oil and Gas Conference and Exhibition in Ashgabat, the capital of Turkmenistan, recently: “Our participation in this conference was represented by 5 companies from the Libyan Oil Council, through the official pavilion. of the Council.
Engineer Bin Othman praised the results achieved during the conference activities, pointing to the many meetings and gatherings that took place with Turkmen and foreign companies and from Central Asian countries, where experiences were exchanged and discussions on many issues of interest to the oil and petrochemical industry, investment in it, and renewable energy.
Bin Othman pointed to achieving a partnership between private and public sector companies in establishing and investing in early oil production facilities, through a recent workshop that aimed to improve the productivity of the oil sector and enhance its capabilities, which contributes to supporting the national economy, regional and international competition, and contributing to supporting its technical capabilities. And technological
The workshop included theoretical concepts about early production facilities, the challenges facing production, the required technical solutions, the development of discovered fields and how to put them on the production line, the importance of private sector participation in the development and production of oil and gas, the most appropriate methods adopted to deal with the gas associated with oil resulting from the production process, and applications. A process on managing oil facilities and investing in raising the productivity of those facilities, and many issues that enhance the oil industry in Libya.
Libya’s production during last September amounted to about 35.872 million barrels of crude oil, 513.5 thousand tons of petroleum products, 41.151 thousand tons of petrochemical products, 197.730 thousand tons of condensates and one billion and 44 thousand cubic meters of natural gas, according to the corporation’s statistics.
Libya’s total oil revenues amounted to $6.95 billion in the first half of 2023, while its oil revenues reached $22.01 billion in 2022, according to previous data from the Central Bank of Libya.