NOC Plans Production Boost

Libya's National Oil Corporation planned to raise production to 2.1 million barrels per day (bpd) by 2024, Chairman Mustafa Sanalla said in a statement on Wednesday.

Sanalla added that NOC was on track to reach more than $20 billion in annual revenue.

There were also plans to restore production at damaged oilfields and to raise gas production to 3.5 billion cubic feet by 2024.

The plans will cost $60 billon, including $15 billion from public funds.

(Reporting by Alaa Swilam and Aziz El Yaakoubi; editing by David Evans)