The chairman of the National Oil Corporation in Libya stated that the country's oil production will exceed 1.5 million barrels per day by the end of 2025, before reaching two million within three years. The media office of the Prime Minister of the National Unity Government, Abdul Hamid Dbeibah, relayed the remarks of the corporation's chairman, Farhat Ben Qadara, made during the meeting of the Supreme Council for Energy and Water, chaired by Dbeibah.
Ben Qadara confirmed that these figures can be achieved by "continuing financial inspections of ongoing projects to reach the desired productivity." Dbeibah emphasized the "necessity of following up on the plan to increase production and reaching a production of two million barrels according to the timelines."
Oil production is the primary source of income for Libya and accounts for about 90 percent of its economic activity. Libya's current oil production stands at 1.220 million barrels per day. At the end of February, Ben Qadara announced that Libya would hold a bidding round to grant exploration rights by the end of this year or early next year.
