France’s Total discusses increased oil production and investment with NOC – as Libya reaches 1.25 million bpd production
By Sami Zaptia.
London, 19 November 2020:
France’s Total and the National Oil Corporation (NOC) discussed increasing production capacity and rates and increasing Total investments in Libya during a virtual meeting yesterday, the NOC reported. It also confirmed that production rates were already at 1.25 million bpd.
The challenges facing the corporation, especially the budgets needed to run the sector’s and complete important strategic projects to support the national economy and complete maintenance work in all its sites, were also discussed.
Total, the NOC reports, congratulated the NOC on its ability to finally resume maintenance and production operations and reach previous production rates despite the difficult conditions that Libya is going through and the scarcity of budgets. Total said it was ready to provide support and extend bridges of cooperation with its partner strategic, the NOC.
NOC chairman Mustafa Sanalla, said: “The National Oil Corporation and its companies, even during the period of closures to this moment, have not and will not stop working hard, and I appreciate the great efforts made by the production, maintenance and project departments, and the efforts of all employees in oil fields and sites throughout Libya’’
“All these steps have borne fruit through coordination with the concerned departments of all companies, and the implementation and good and accurate completion of all maintenance work carried out for surface equipment and crude oil transmission lines, in exceptional and very difficult circumstances, which is what clearly explains the rapid return to previous production rates, which reached 1.25 million barrels per day, which are roughly the same rates achieved by the corporation and its companies before the shutdown.
The NOC looks forward to continuing a constructive partnership with Total for what this giant company possesses of expertise and technologies that will contribute significantly in developing the oil and energy sector in Libya’’.