Libya hopes to reach 2 million oil bpd by 2022, NOC chairman says

Chairman of the National Oil Corporation (NOC) Mustafa Sanallah (Photo: Archive)

Libya hopes to receive an exemption from possible production curbs by Opec and allies, as it works to raise its own output capacity levels to two million barrels per day by 2022, the head of the country’s state producer said.

“Opec and non-Opec [producers] for the last two years understood very well the Libyan situation and they gave us full support to keep our production,” Mustafa Sanallah, chairman of Libya’s National Oil Corporation told The National in an interview. “We are far, far from our quota in production and due to the uncertainty of the country, the security threat, due to under-investment, we have our own problems and they are supporting the NOC over the last two years.”

The support is expected to continue into next year, as Opec and allies are set to meet in Vienna in early December to discuss possible cuts to bolster prices, which plunged 25 per cent to $65 per barrel for Brent on Wednesday after rallying around $80 for much of the summer. At its latest joint ministerial monitoring committee meeting held in the UAE capital, Opec said it anticipated higher supply growth next year and would look to revise its current strategy of boosting production.

Earlier in 2016 the exporters’ group and allies undertook a pact to curb production to the tune of 1.8 million bpd through 2017, with exemptions granted to Libya, Nigeria as well as Iran, which had seen significant outages in output due to conflict and sanctions.

Sanallah said raising output was key for Libya to continue to be on target and earn revenues.

The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to Please include ‘Op-Ed’ in the subject line.
You might also like

Submit a Correction

For: Libya hopes to reach 2 million oil bpd by 2022, NOC chairman says

Your suggestion have been successfully submitted

There was an error while trying to send your request. Please try again.

Libyan Express will use the information you provide on this form to be in touch with you and to provide updates and marketing.