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Libya's NOC chair targets oil production of 1.72 mln bpd

Arab World Materials 7 November 2012 14:14
Libya's NOC chair targets oil production of 1.72 mln bpd
Libya's NOC chair targets oil production of 1.72 mln bpd

Libya's National Oil Corporation (NOC) aims to boost oil production to 1.72 million barrels per day (bpd) by the end of March next year, its chairman said on Wednesday, but warned that strikes posed ongoing risks to the sector Reuters reported.

"We had some drops with production. Welcome to democracy and freedom of expression. We had strikes and we expect more of that but it is a healthy thing," NOC Chairman Nuri Berruien said at the North Africa Oil and Gas Summit.

OPEC member Libya has surprised analysts by boosting production much faster than anticipated after last year's civil war to a current level of around 1.6 million barrels per day.

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