Austria's oil and gas group OMV expects its 2017 oil output in Libya to reach 10,000 barrels per day (Mbbl/d) on average, up from 3 Mbbl/d in the last quarter of 2016, it said on Feb. 2, referring to a ramp-up in the Sirte and Sharara oil fields.

OMV said that if security continued to improve, it could increase its Libyan production to 50 Mbbl/d, which compares with its total 2016 year-end output of 315 Mboe/d.

OMV also said it increased its stake in four exploration and production-sharing agreements in the Sirte Basin it has with the Libyan National Oil Corp.