It can’t be easy being Mustafa Sanalla. Each year Libya’s National Oil Corporation (NOC) chairman sets new production targets and each year these are missed. But you need a plan if you want results.
Mr Sanalla outlined his ambitious goals of 1.5mn b/d 2020 oil output, rising to 2.1mn b/d (and 3.5bn cfd gross gas) in 2024, at the Libya-British Business Council in Tunis on 20 November. NOC says it has to add 350,000 b/d to hit the 2020 target: current output is 1.25mn b/d but Mr Sanalla presumes “a natural decline rate of 7-8%.” (CONTINUED - 860 WORDS)