Libya not to revise pre-war oil contracts
Azerbaijan, Baku, Nov 11 /Trend T.Konyayeva/
Libya will not revise any oil export contract concluded before the revolution, at least until the general elections are held, AlArabia quoted acting Deputy Prime Minister Ali Tarhouni as saying on Friday.
Tarhouni said Libya seeks to increase oil output up to 700,000 barrels per day by the end of the current year.
"Libya plans to return oil output to its pre-war level of 1.6 million barrels a day by June, 2012," he underscored.
Furthermore, the Libyan government also plans to resume gas production, Tarhouni added.
Libya's proven oil reserves are estimated at 45 billion barrels. Before the war, Libya produced 1.5 million barrels of oil per day.
The Head of Libya's National Oil Corporation Nuri Beruin said in September that Libya was producing oil only from the Sarir field, but over the next six months, the oil production will begin on the country's all oil fields and will reach from 800,000 to 1 million barrels per day.
Meanwhile, the former head of the Corporation Shokri Ghanem said Tuesday that Libya will be able to enter the pre-war level of oil production not earlier than 18 months.