National Oil Corporation Statement on Crude Oil Production
The National Oil Corporation (NOC) is pleased to announce to the Libyan people that our daily crude oil production has surpassed the target set for 2024, reaching 1,405,609 barrels, along with 52,633 barrels of condensates. This remarkable achievement could not have been realized, despite the delays in releasing the 2024 budget, without God’s grace and the dedication of workers across the production platforms, each diligently fulfilling their tasks and responsibilities. Additionally, the continuous efforts of the nation’s security and military personnel, who work tirelessly around the clock to ensure a stable and secure environment, have played a key role in enhancing professional performance across oil fields and ports.
The NOC is determined to continue making progress, with the goal of doubling these figures in the coming year and beyond. It is hopeful for even more positive outcomes following the launch of the public bidding round for oil and gas exploration and production sharing, which will open significant investment opportunities for major global companies in the country. This, in turn, is expected to boost revenues, involve the local private sector, create job opportunities for youth, and drive economic growth and sustainable development.
The NOC and its affiliated companies have spared no effort in developing the oil sector as a whole, working tirelessly to elevate it to its rightful position among global institutions in the same field, thereby ensuring the highest levels of economic growth for Libya and its people.
May God Bless Libya.
Issued in Tripoli, December 25, 2024