Libya: Al-Waha Oil Company registers highest production in 11 years

Al-Waha Oil Company has achieved its highest oil production level in over 11 years, according to an announcement by the National Oil Corporation (NOC) on Wednesday, November 27. Daily production for Al-Waha reached 350,549 barrels of crude oil, contributing significantly to Libya’s total crude output of 1,380,470 barrels over the past 24 hours. Additionally, Libya’s gas production was recorded at 198,190 barrels of oil equivalent, signaling an upward trend in the country’s overall hydrocarbon output.

The NOC described these figures as evidence of steady growth in production and outlined ambitious plans to further boost output. The corporation aims to reach a production milestone of 2 million barrels per day (bpd) by the end of next year, underpinned by a comprehensive operational strategy. Chairman of the NOC Board, Farhat Bengdara, was instructed to oversee the development of a three-to-five-year plan to sustain and expand production levels.

During a recent board meeting with department heads, the NOC emphasized the necessity of crafting a clear roadmap to meet long-term objectives. The strategy will include aligning the operational plans of subsidiary companies with overarching corporate goals. Bengdara also stressed the importance of ensuring that these strategies are not only compatible with the NOC’s mission but also foster greater integration and efficiency across all operational and strategic activities.

The NOC’s efforts to enhance production come at a crucial time for Libya, as the country seeks to capitalize on its vast oil and gas resources to stabilize its economy and attract international investment. The corporation’s push for higher output aligns with broader national goals of leveraging energy revenues to support infrastructure development and economic recovery. By achieving and sustaining the targeted production levels, Libya could strengthen its position as a key player in the global energy market.