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France’s Total ponders more investment in Libyan oil sector

Libya’s National Oil Corporation (NOC) and France’s Total SE are in talks to increase energy investment in Libya, where oil output has surged in the past two months after the end of warlord Khalifa Haftar’s blockade on oil production and exports.

Total and Libya’s state-run NOC held a virtual meeting and discussed efforts to increase Libyan production capacity and output “to the highest levels,” the NOC said Thursday.

Daily output has already recovered to 1.25 million barrels, the NOC said in a statement, the same amount Libya was producing before the oil blockade by warlord Haftar in last January.

“The NOC and its companies, even during the shutdown, have not and will not stop working hard,” NOC Chairman Mustafa Sanalla said, adding that “This explains the rapid return to previous production rates.”

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