Crude production still jumping in Libya
With the continued shutdown of the Suez Canal, Libya may become the world's fourth largest crude producer within the next few months, and become the leading Arab oil producing nation. Big field and terminal expansions now on hand for nearly all producing companies will raise crude capacity to over 3.8 million bpd by the end of 1969. The current year also is likely to be marked by some important changes in Libyan petroleum legislation and the basis of crude postings. All this is being reflected in Libya's growing voice in Arab oil councils. The steepness in the upward oil production curve is such that the 1968 average output of 2,599,800 bpd was a jump of 49.4% over the previous years. This gain raised Libya to sixth among the world's oil producers. A breakdown of production figures shows the amount of oil in barrels produced by the various companies in Libya for 1968. In addition to large capacity expansions now on hand for existing fields, virtually all of the producing companies, there are now several concessionaires which have made field discoveries in the past few months and who are negotiating with neighboring producers in the hopes of tying in with an existing pipeline system.
- OSTI ID:
- 5373664
- Journal Information:
- World Pet.; (United States), Vol. 40:3
- Country of Publication:
- United States
- Language:
- English
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