Tripoli _ The High Council for Energy Affairs of Libya has on Thursday approved the four-year plan (2023-2027) presented by the National Oil Corporation (NOC), the corporation said on its website.
The council members during their third meeting in Tripoli, which was attended by NOCs Chairman Farhat Ben Gdara, discussed the corporation’s plans to increase production rates to 2 million bpd.
Meanwhile, NOC has announced that the Libyan oil production increased to over 1.223 million bpd. This is in addition to 53000 barrels per day of natural gas condensates.
The Council also discussed the estimated budget in addition to taking steps to implement a policy regarding alternative forms of energy.
Furthermore, Zallaf Oil and Gas company began crude oil production at the Erawen oil field at a rate of 3,000 barrels per day, NOC said.
Once all the wells and pipelines linking Erawen field and Sharara are operational, it is expected that the production at the field will surpass 16,000 bpd, NOC said. This forms part of NOC’s initiative to increase production rates to 2 million bpd.
Zallaf Oil and Gas Co. is one of the pioneers in adopting crude oil transportation by tankers, facilitating 12 daily trips from the production tanks at Erawen field to the surface treatment unit at Sharara field, managed by Akakus Oil Operations Company.