Libya’s $60 Billion Push To Double Oil Production

Mustafa Sanalla, chairman of Libya’s internationally recognized National Oil Corporation (NOC), held meetings with U.S. companies at the Offshore Technology Conference (OTC) in Houston this week, to discuss US$60 billion worth of procurement contracts necessary to more than double Libyan oil production by 2023.

Libya, which currently pumps around 1 million bpd in a fragile security situation, plans to have its crude oil production grow to 2.1 million bpd by 2023. Sanalla met this week with the top executives of several U.S. companies to “discuss the technology and expertise needed to achieve the corporation’s stated production target,” NOC says

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