The head of the National Oil Corporation, Farhat Ben Gdara, told Bloomberg regarding the exploitation of the flared gas, where he said: “Last Tuesday, the NOC signed an agreement worth 1.05 billion dollars with the Italian company Eni to exploit the burning natural gas associated with oil production, and the implementation of this project is supposed to start in 2025.”
He stressed that Libya will be able to produce 1.3 million barrels per day by the end of the current year 2023, and that avoiding closing the fields and improving the salaries of oil workers contributed to increasing production by about a quarter since January 2022 to 1.2 million barrels per day now.
He revealed that investments worth $17 billion in 45 projects will allow the NOC to increase production to two million barrels per day within five years.
The National Unity Government will also offer the rights to develop additional fields next year, and the National Oil Corporation has resumed gas supplies from the Mellitah complex after its maintenance.
According to Bin Gdara, the gas flows will remain stable during the next five years, after the maintenance of the complex.