Libya targets 2m b/d oil before 2030

Oil minister Oun sends out cautiously optimistic message on oil and gas outlook and says pilot project ready to unlock huge shale reserves key to further growth

Libya, which has struggled with civil conflict and natural disasters, could see oil production rising to 2m b/d before the end of the decade following output having stabilised at around 1.2m b/d. The North African producer, which is rich in oil and gas and has the fifth-largest shale reserves in the world, has suffered from extreme volatility amid internal political struggles, but average oil production is now at its highest for a decade.  “The aim is to increase production to about 2m b/d, and we can reach this figure gradually,” said Libyan oil minister Mohamed Oun in an interview with Petroleum Economist on the sidelines of the WPC energy conference in Calgary.  “We will see start t