Libya: 2 Million bpd Goal Highlighted During Tripoli Summit

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LEES 2024 panel spotlights Libya's 2 million bpd goal, emphasizing resilience, infrastructure, and exploration collaboration for energy excellence.

Libya’s 2 million barrel per day (bpd) goal was a focal point on the second day of the Libya Energy and Economic Summit (LEES) 2024, taking place in Tripoli this week.

During a panel session sponsored by SLB, Jean Jaylet, Vice President North Africa, TotalEnergies, emphasized the country’s resilience and abundant resources. “Resources are plentiful in this country, and 2 million bpd is very achievable. We need good service contractors, and in the context of Waha, we are working with Libya’s National Oil Corporation (NOC) he said. 

Mikel Erquiaga Aguirre, Director of Libya Business Unit, Repsol, echoed Jaylet’s sentiments on the 2 million bpd target, stating, “Achieving 2 million bpd in Libya is easy, but infrastructure is critical. Fighting the declining rates in our fields is essential. Our assets are 30 years old and need revamping,” he noted.

Elaborating on the need for infrastructure, Tarek Rizk, MENA President, SLB, spoke about improving productivity in existing brown fields. “Improving productivity in existing brown fields is an excellent strategy. Technology will enhance safety, intensity and carbon reduction. The energy ecosystem is transforming, and oil and gas will play a different role in the mix. Technology, such as using different materials, will be crucial.”

Addressing the infrastructure concern, Khalifa Abdulsadiq, Board Member, NOC, disclosed the organization’s roadmap, emphasizing both new developments and redevelopments. He underscored priorities, stating, “Decarbonization and revamping the water injection system are priorities.”

Meanwhile, Antonio Baldassarre, MD, Eni North Africa, underscored Libya’s immense potential. He stated, “Libya has huge potential in oil, gas, and renewable energy.” Baldassarre further advocated for the application of new technologies to rejuvenate declining fields and highlighted the significance of collaboration with the NOC and partners, stressing, “Collaboration with NOC and partners is key.”

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