Libya targets an 8% increase in oil production, aiming for the highest levels in over a decade

However, this year has seen relatively stable production, raising hopes that the country's problems may be easing.

Bengdara further revealed that the National Oil Corp (NOC) plans to invest $17 billion in 45 projects, with the aim of increasing production to 2 million barrels per day within five years. If achieved, this would exceed production levels achieved under the Gaddafi regime.

In addition, the Libyan government intends to offer development rights for additional fields over the coming year, presenting opportunities for growth in the oil sector.

As part of its ongoing efforts to strengthen the energy sector, the NOC is restarting the supply of natural gas to the Mellitah complex following maintenance work.

Bengdara assured us that gas flows would remain stable for the next five years after completion of the maintenance work.

In addition, NOC recently signed a $1.05 billion agreement with Italy's Eni SpA to capture and use flared natural gas.

The project is due to come on stream in 2025, helping to reduce waste and improve energy sustainability.

International companies, including Eni SpA and BP Plc, are actively involved in expanding production in Libya's main fields. In particular, they are expected to start new drilling operations on the Waha field by the end of 2024, as Bengdara stated.