Libya’s National Oil Corporation (NOC) announced that an oil well has begun production, after its conversion from a non-producing well.
This well, labeled DD21-80 in the Messla oil field, had been inactive for 22 years. After the transformation, it now produces 1,510 barrels per day. The technical teams from the Arabian Gulf Oil Company (AGOCO) successfully conducted this conversion.
They utilised directional drilling, and re-entry techniques. The NOC’s board of directors praised these efforts, as part of plans to increase production rates.
Last week, the NOC announced its production statistics for crude oil and natural gas in September.
The data revealed that the country produced over 35.8 million barrels of oil last month. It also pointed out that 513,428 metric tons of oil products, and 41,151 metric tons of petrochemical products were manufactured during the same period. Additionally, the report records 197,730 metric tons of condensates.
Significantly, the production of natural gas fields in Libya exceeded 1,04 billion cubic meters during September.
Earlier, Libyan Minister of Oil and Gas, Mohamed Aoun said plans to increase daily oil production to two million barrels before 2030.
The Libyan government aims to raise oil production from its current approximately 1.2 million barrels per day, to 2 million barrels.
“We will begin to see the results of this growth within two to three years, and within approximately five to seven years when we reach the target of two million barrels per day,” Aoun said in a press statement.
Moreover, Aoun highlighted that this investment won’t be limited to existing fields but will also encompass newly discovered fields, which are yet to be developed.
In July, the NOC announced that oil production had risen to one million barrels per day.
In August, the NOC reported a production stability of 1.2 million barrels, signalling the country’s gradual increase in production, particularly through the development of newly discovered fields.
