• Current production is 436,000 barrels a day
  • Repair work is due to be carried out to damaged fields
  • Libya’s NOC expects oil prices to continue their recovery

The chairman of Libya’s National Oil Company Mustafa Sanallah has said the North African nation is currently pumping 436,000 barrels a day (b/d) and hopes to increase output by 200,000 b/d over the next two months.

Speaking at a conference in London on 19 May, he said that production would be increased by carrying out repair work to damaged fields and negotiations with groups that have hijacked oil infrastructure including pipelines and oilfields.

Sanallah said he expects oil prices to rise over the second half of 2015 and during 2016.

“There is a general consensus that oil prices will recover. The worst of the market is behind us now,” he said.

Libya is currently struggling to boost oil production amid political unrest.

The country is seeing ongoing clashes between militias aligned with the country’s two rival governments, which are continuing to battle for control over territory and the country’s oil revenues.

Adding to the chaos, the jihadist group the Islamic State in Iraq and Syria (Isis) has rapidly expanded in Libya over the past six months after establishing a foothold in the town of Derna in November.

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