Farhat Bengdara, head of Libya’s NOC on 9 June told PM Abdul Hameed Dbeibeh that NOC is working to meet its medium-term goal of boosting oil output “through a gradual increase in production” to more than 2mn b/d by end-2025, from the current 1.2mn b/d (MEES, 19 January).
Indeed, NOC’s most recent daily production figures show output hitting 1.258mn b/d of crude (and 53,000 b/d condensate) for 10 June, a figure which if sustained for a month would be the highest since 2013, whilst rig count data from Baker Hughes indicated an 18-year high of 21 for February (MEES, 23 February), though the latest figure for May was somewhat lower at 18. (CONTINUED - 1235 WORDS)
