Libyan oil company hits highest production levels in 20 years

Libya’s Sirte Oil Company has hit its highest level of daily crude oil production in 20 years, according to the Libyan Express on August 8th.

The Sirte Oil Company operates under the state owned National Oil Corporation, which is based in the capital of Tripoli.

The company Chairman, Mustafa Hammad, announced at the annual technical meeting for production and reserves that daily production at the beginning of the 2024-2025 fiscal year was at 102,000  barrels and by the end of July 2025 had risen to 110,000 barrels a day.

The meeting included engineers, planners, and senior officials.

Hammad described the period of 2024-2025 as a “year of transformation and achievement.”

The company is aiming to be producing 126,000 barrels a day by the end of December 2025, a target that can be achieved if budget allocations are approved to complete crucial drilling, maintenance, and development projects.

Hammad also highlighted technical advancements that have been made over the last year. He discussed the launch of new production fields, reservoir development, and the successful drilling of horizontal wells using modern technology.

He also stressed the improvements to infrastructure, including the installation of eclectic submersible pumps to boost well output and the securing of energy sources to stabilize field operations.

Libya’s oil sector is an essential part of the national economy- the nation has the largest oil reserves of any African nation, with a total of 48.36 billion barrels. This figure has not changed since 2013, despite fluctuations across the African continent.

Other progress that has been made in Libya’s oil sector suggesting a return to operational stability includes the return of two major international oil corporations by the end of 2025, Shell and BP, after several years of suspension due to instability in the region.

Libyan Express/Maghrebi