Libya's crude oil production has hit a five-year high, bringing badly needed revenue to the violence-wracked country, but further gains will depend on stabilizing security and attracting foreign investment, the chairman of state-owned National Oil Corporation told S&P Global Platts.

Libya is pumping 1.28 million b/d, its most since August 2013, and still harbors ambitions of boosting output beyond 2 million b/d by 2022, Mustafa Sanalla said in an interview after attending Sunday's OPEC/non-OPEC monitoring committee meeting in Algiers. Talks with several international oil companies regarding increasing production, staffing, and investment across the country were progressing, he added. The chairman said he recently visited Spain to meet officials at Repsol, a key partner in the 340,000 b/d Sharara field, Libya's largest oil field.

Selected by SPTEC Advisory from S&P Global Platts