Total Seeks to Boost Investments in Libya

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On Wednesday, Libya’s National Oil Corporation (NOC) said in a statement that the French energy company ‘Total SE’ is seeking to expand its investment base in Libya.

The NOC added that it had discussed the corporation’s efforts to raise production capacity and increase production rates to the highest levels.

The statement added that the NOC’s Chairman, Mustafa Sanalla, held a virtual meeting with the head of Total’s Exploration and Production for the Middle East and North Africa, Stephane Michel. The statement added that Michel stressed the company’s readiness to “provide support and build bridges of cooperation with its strategic partner, the National Oil Corporation.”

The NOC announced that Libya’s oil production has reached 1.25 million bpd.

Total has been present in Libya since 1954. In 2018, the group’s production in the country averaged 63,000 bpd.