NOC Holds Meetings to Boost Oil Production
The National Oil Corporation (NOC) of Libya held important meetings on Sunday, October 22, with representatives from major oil companies. The goal was to discuss strategies and plans to increase oil production in 2024. Khalifa Abdul Sadiq, Chairman of the Production Increase Monitoring Committee and NOC Board Member for Exploration and Production Affairs, chaired the meetings. Executives from several companies, including Mellitah, Arabian Gulf Oil, Waha Oil, Akakus Oil Operations, and Sirte Oil and Gas Production and Processing, attended.
Key Discussion Topics
The meetings included discussions among heads of various departments, such as production, drilling, reserves development, finance, and minor projects. The main focus was on the drilling and maintenance of oil wells, as well as initiatives aimed at boosting overall production.
Challenges Identified
During the discussions, NOC officials addressed the significant challenges that have prevented the achievement of production goals. They paid particular attention to technical and logistical obstacles that need to be overcome.
Current Production Data
According to data released on October 20, Libya produced 24,000 barrels of crude oil and condensates, along with 1,327,646 barrels of gas equivalent over the past month. The General Electricity Company used 812 million cubic feet of gas and 25,856 barrels of crude oil during this period. Additionally, the country consumed 7,950 tons of diesel and 294 tons of heavy fuel oil.
Overall, Libya’s total daily consumption amounted to 991 million cubic feet of gas and 25,856 barrels of crude oil, with 7,950 tons of diesel and 294 tons of heavy fuel oil supplied for local industries, including the steel and cement sectors.
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