Waha Oil Company, a subsidiary of the National Oil Corporation (NOC), has increased production by over 100,000 barrels per day (b/d) since this summer, Reuters reports.
Despite the production gains, the 260,000 b/d produced by the company falls short of its goal of 375,000 b/d, according to the news agency.
The Chairman of Waha, Ahmed Ammar, attributed the shortfall to insufficient funds.
The company has experienced a number of pipeline leaks recently, according to Reuters.
“Our major issue now at Waha in the existing facilities is the pipelines,” the chairman stated, indicating that “[t]he require a lot of funding.”
Earlier this fall, Waha installed two single-point moorings (SPMs) at the Es Sider terminal to facilitate its exports, Reuters previously reported.
The NOC is the national oil company of Libya.
After facing many disruptions this fall, Libya’s oil industry is now producing close to 1 million b/d, according to Reuters.