Sirte Oil hits highest production in 20 years

Sirte Oil Company has raised its daily crude oil production to 110,000 barrels — its highest level in more than two decades — as the Libyan energy sector continues to push forward with post-conflict recovery and development.

Company Chairman Mustafa Hammad described the 2024–2025 period as a “year of transformation and achievement,” noting that production rose from 102,000 barrels per day at the beginning of the fiscal year to 110,000 barrels by the end of July 2025.

Hammad made the announcement during the company’s annual technical meeting for production and reserves, held at its Marsa el Brega headquarters. The meeting brought together engineers, planners, and senior officials to evaluate operational performance and assess progress across key projects.

Looking ahead, Hammad said the company is aiming for a production target of 126,000 barrels per day by the end of December 2025 — contingent on the timely approval of budget allocations needed to complete critical drilling, maintenance, and development projects.

In his remarks, Hammad emphasized technical advancements made over the past year, including the launch of new production fields, reservoir development across multiple zones, and the successful drilling of horizontal wells using modern technology. He also highlighted infrastructure improvements, such as the installation of electric submersible pumps to boost well output and the securing of energy sources to stabilize field operations.

Sirte Oil’s performance comes at a critical time for Libya’s oil sector, which remains the backbone of the national economy. While the country continues to face political and logistical challenges, companies like Sirte are signaling a return to operational stability and long-term investment planning.