The Chairman of the Directors Board of the National Oil Corporation, Mustafa Sanalla, said that the Libyan oil sector is in need of budgets and funding to achieve the corporation’s strategic goals and to reach Libyan oil production rates to 2.1 million barrels per day.
Sanalla explained that the National Oil Corporation has strategic plans that it seeks to implement and achieve its short-term goals to reach production rates of about 1.4 million barrels per day, and medium-term goals with production rates of 2.1 million barrels per day.
He added that the Corporation is in dire need of the necessary funding to be able to move forward with the implementation of these strategic plans, fulfill its contractual obligations, pay off the accumulated debts that have burdened it, advance the national economy and advance the country’s development.