Libya plans to extract 1.3 mln. of oil barrels per day by 2012
Azerbaijan, Baku, Dec. 15 / Trend S. Isayev, A. Tagiyeva/
Libya extracts about 1 mln of barrels of oil per day for now, minister of Libya Oil, Abdurrahman Ben Yezza said, Al Jazeera reported.
The minister added that the country will increase the oil extraction up to 1.3 mln per day by the first quarter of 2012, and up to 1.5 mln. by the second quarter of the same year.
According to ESAI forecasts, Libyan production will only reach 1 million b/d by the end of 2012. These forecasts are close to the ones of International Energy Agency's (IEA), which expect Libya to produce around 1.17 million barrels per day by late 2012.
Before the Libyan crisis, the country produced 1.6 million barrels per day and 1.3 million barrels of these volumes were exported.
Libya's proven oil reserves are 45 billion barrels. Before the revolution the country produced 1.5 million barrels of oil per day.