Libya’s NOC signs new production-sharing deals, targets 2 million barrels per day output

Libya’s National Oil Corporation has launched its first licensing round in nearly 20 years and signed production-sharing agreements with energy companies from Spain, Turkey, Italy and Qatar. The NOC said it aims to lift output from about 1.4 million barrels per day to 2 million barrels per day. The move points to renewed international confidence in Libya’s oil and gas assets despite political divisions between the east and west.