Latest news with #MustafaHammad
Libya Observer
09-08-2025
- Business
- Libya Observer
Sirte Oil boosts output to 110,000 barrels a day, targets further gains
Sirte Oil and Gas Production and Manufacturing Co. raised crude output to 110,000 barrels a day by the end of July, up 8,000 barrels from the previous average, Chairman Mustafa Hammad said. The Libyan state-run producer aims to lift production to 126,000 barrels a day by December, contingent on budget approvals for drilling, maintenance and development projects. Speaking at the company's annual technical meeting on production and reserves development, Hammad said Sirte has added new fields to output, drilled horizontal wells with modern technology and advanced support projects, including supplying operating wells with electric submersible pumps and securing additional power sources to improve efficiency. The company has re-evaluated reserves at several fields and expanded technical studies with local and international partners. It has also begun installing systems to measure gas emissions from fixed sources at operational sites, part of efforts to meet environmental standards. Economy Tagged: Sirte Oil & Gas Company
Libyan Express
08-08-2025
- Business
- Libyan Express
Sirte Oil hits highest production in 20 years
BY Libyan Express Aug 08, 2025 - 07:24 Oil output surges at Sirte as company outlines ambitious growth plan Sirte Oil Company has raised its daily crude oil production to 110,000 barrels — its highest level in more than two decades — as the Libyan energy sector continues to push forward with post-conflict recovery and development. Company Chairman Mustafa Hammad described the 2024–2025 period as a 'year of transformation and achievement,' noting that production rose from 102,000 barrels per day at the beginning of the fiscal year to 110,000 barrels by the end of July 2025. Hammad made the announcement during the company's annual technical meeting for production and reserves, held at its Marsa el Brega headquarters. The meeting brought together engineers, planners, and senior officials to evaluate operational performance and assess progress across key projects. Looking ahead, Hammad said the company is aiming for a production target of 126,000 barrels per day by the end of December 2025 — contingent on the timely approval of budget allocations needed to complete critical drilling, maintenance, and development projects. In his remarks, Hammad emphasized technical advancements made over the past year, including the launch of new production fields, reservoir development across multiple zones, and the successful drilling of horizontal wells using modern technology. He also highlighted infrastructure improvements, such as the installation of electric submersible pumps to boost well output and the securing of energy sources to stabilize field operations. Sirte Oil's performance comes at a critical time for Libya's oil sector, which remains the backbone of the national economy. While the country continues to face political and logistical challenges, companies like Sirte are signaling a return to operational stability and long-term investment planning. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
