Libya - to increase oil production to 2 million barrels per day by the end of 2025

Libya seeks to increase its crude oil production to 2 million barrels per day within 3 years. Libyan Oil Minister Mohamed Aoun is looking forward to achieving more oil and gas discoveries in the waters of the Mediterranean during the coming years, and he therefore hopes to reach friendly solutions to the problems of demarcating Libya’s maritime borders, especially with the presence of huge reservoirs of oil and gas that are still undiscovered so far in the Libyan economy waters, eastern and western Mediterranean.


In his interview with Al-Jazeera Mubasher channel, Libyan Oil Minister Mohamed Aoun touched on the potential of oil in Libya, explaining that his country is the fifth one globally in terms of owning shale oil reserves.


Aoun stressed that his country is trying to encourage American companies to return to work in Libya, and this includes various service companies in the Libyan oil and gas sectors, especially since these sectors operate with American technologies.


He pointed out that the responses of US officials regarding returning to work in Libya were positive, especially after the minister briefed them on his ministry’s vision of the need to lead the oil sector in Libya with high transparency and efficiency to complete future projects, with the aim of increasing the state’s production of oil and gas.


The Libyan minister had started a visit to the United States at the beginning of this year (2023), during which he met US Assistant Secretary of State for Energy Resources Jeffrey Pyatt, and held discussions with senior officials of energy companies, led by ConocoPhillips.


The Libyan Oil Minister called on the officials of the “ConocoPhillips” company to expedite the implementation of projects that will have an impact on increasing oil and gas production, especially the North “Gallo” project and the “NC98” block.


For his part, Vice President of International Governmental Affairs and Political Risk at the American company, Josh Corliss, said that ConocoPhillips wants to continue investing in Libya, and is ready to provide technical assistance, especially with the apparent improvement in the security situation there.