The Sirte Oil and Gas Company announced on Saturday, that it has been able to connect seven wells to the country’s line of production, including six oil wells and a natural gas well.
In a statement, the company stated that the newly-connected wells would produce up to 3,500 barrels of crude oil per day, and about 4.4 million cubic feet of natural gas.
In a related context, the Sirte Company has embarked on a strategic project to connect the gas wells of the Rashad field to the gas plant at the Istiqlal field. This is with the aim of increasing the company’s production of gas by up to 50 million cubic feet per day, which will be pumped through the coastal line system to consumers.
Notably, the Libyan Minister of Oil and Gas, Mohamed Aoun noted that Libya has enough solar radiation to export massive amounts of electricity to other countries.
During his participation via videoconference in the Global Summit on Energy Security in India, Aoun stressed the need to transition to clean energies. However, he urged that it not take place at the expense of the African continent.
According to a statement by the Ministry, Aoun added that “more than half of the continent’s population have not seen electricity in their lives, and they have the right to live a decent life before switching to clean energies.”
Aoun referred to the start of solar projects in Libya, adding, “we have ambitious projects in various energy fields.”
Earlier this month, Aoun said that Libya plans to increase oil production to 2 million bpd within three years.
In press statements, Aoun expected that oil would gradually rise between 1.3 and 1.5 million bpd during 2023. He added that geological studies have proven the existence of large deposits of oil and gas in the Libyan economic waters in the Mediterranean.
The Minister expressed his hope to reach “amicable solutions” to the maritime border demarcation crisis with neighboring countries, especially Egypt.
