National Oil Corporation chairman Farhat Bengdara says Libya needs around $4bn a year to update its crumbling upstream infrastructure and boost production capacity up from 1.2mn b/d to around 2mn b/d.
This target is not new. Former NOC head Mustafa Sanalla laid out a five-year plan to boost production to 2.1mn b/d back in 2019 (MEES, 22 November 2019). But Libya’s ongoing political turmoil continues to stymie progress. (CONTINUED - 816 WORDS)