Oil Minister Mohamed Aoun said on Sunday that Libya is studying the possibility of offering contracts that would grant rewards to international oil companies; To increase production to 1.4 million barrels per day by the middle of next year 2022.
Aoun added in an interview with the American news agency “Bloomberg” , that reaching this figure will be easy, if the budget is passed to the government, which will open the door to financing the oil sector, so the government can conclude oil service agreements with private Libyan or foreign companies to develop the fields. and boost production.
Aoun explained that production currently ranges between 1.25 million and 1.3 million barrels per day, hoping in the event of state stability, through elections or the formation of a government, to reach 2.1 million barrels within two or three years, according to the agency.
It is worth noting that the Minister of Oil, Mohammed Aoun, said in an interview with the Emirati newspaper Al-Ettihad last November, that the budget allocations required for the development of the oil sector during the current year are estimated at 7 billion dinars, but only three billion were approved, pointing out that The target of oil revenues this year is estimated at $20 billion.
