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بوابة الوسط
Libyan oil output surpasses 1.4M barrels
The article focused on the strategy adopted by Farhat Bengdara after he assumed the presidency of the National Oil Corporation in Libya. This strategy led to an increase in oil production to over 1.4 million barrels per day, the highest level in more than a decade, while also attracting international oil companies to operate in the country. The strategy comprises four main pillars: strengthening the institutional capabilities of the corporation according to international standards; adhering to environmental initiatives and reducing gas flaring; developing the gas sector through international cooperation; and improving transparency and corporate governance. Thanks to these reforms, production and revenues have reached unprecedented levels, and Libya has begun to attract global companies through competitive licensing rounds. Additionally, the Waha field's concessions have been extended until 2050, reflecting companies' confidence in the stability of the Libyan market and the sustainability of investment. The success of these reforms depends on implementing the four pillars simultaneously, with an emphasis on institutional development and international trust, thereby enhancing the investment environment and strengthening the national economy.
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