Significant Increases in Oil Production by Libya’s National Oil Corporation Since Beginning of the Year 2024

By: Mohamed Algarj

Introduction

Since the start of the year, Libya's National Oil Corporation (NOC) has recorded remarkable increases in oil production across various fields and companies. This surge in production is a positive indicator of the country's efforts to revitalize its oil industry, which plays a crucial role in the national economy. This report provides a detailed analysis of the production increases by location and company, supported by comprehensive data visualizations.

Overall Production Increases

The total additional production increase since the beginning of the year stands at an impressive 62,078 barrels per day. This increase is spread across multiple fields and is managed by various oil companies operating in Libya.

Production Increases by Company

1. Akakus Oil Operations:

   - Total Additional Production Increase: +16,468 barrels per day

2. Arabian Gulf Oil Company:

   - Total Additional Production Increase: +3,558 barrels per day

3. Sirte Oil Company for Production & Manufacturing:

   - Total Additional Production Increase: +14,126 barrels per day

4. Mellitah Oil & Gas:

   - Total Additional Production Increase: +27,926 barrels per day

Production Increases by Location

The increases in production are observed across several key oil fields:

1. Mesla Oil Field: +2,104 barrels per day

2. Sarir Oil Field: +1,134 barrels per day

3. Hamada: +320 barrels per day

4. Contract Area M.N.6: +626 barrels per day

5. Block NC107: +3,000 barrels per day

6. NC-149: +2,000 barrels per day

7. NC-6: +6,644 barrels per day

8. NC-101: +1,500 barrels per day

9. Abu Attifel: +10,106 barrels per day

10. Elephant Field: +11,320 barrels per day

11. Al-Bouri: +3,000 barrels per day

12. Al-Sharara: +10,804 barrels per day

Cumulative Production Increases Over Time

Tracking the cumulative production increase over time shows a steady upward trend, reflecting the continuous efforts in oil field development and well management.

Well-Specific Production Rates

A scatter plot of production rates for different wells reveals the variability in production capacities among the wells, highlighting areas of high productivity and potential for further development.

Distribution of Production Rates

The histogram of production rates provides insights into the frequency distribution of well productivity, with most wells showing moderate production rates and a few exhibiting exceptionally high outputs.

Production Rates by Company

A box plot comparing the production rates by company shows the range and central tendency of production increases for each company. This analysis is crucial for understanding company-specific performance and strategic positioning.

Conclusion

The data demonstrates significant additional production increases in Libya's oil sector, facilitated by effective management and strategic drilling operations across various fields. These increases not only bolster the national economy but also position Libya as a resilient player in the global oil market. The visualizations provide a clear and comprehensive understanding of the production dynamics, supporting informed decision-making and strategic planning in the industry.

Future Outlook

Continued investment in oil field development, advanced drilling technologies, and efficient well management practices are essential for sustaining and further enhancing production capacities. Monitoring these metrics will be vital for assessing the long-term health and growth potential of Libya's oil sector.

References

- National Oil Corporation Reports

- Field Development Plans

- Company Production Data