Libya 's oil production will reach projected levels by the first quarter of next year, the chairman of Libya 's National Oil Company Nuri Berruien said Wednesday.

"By the end of the first quarter of next year, we'll be back to this level. At 1.7 (million barrels per day) at least," said Mr. Berruien.

The chairman said that production predictions made in September 2011, before the full extent of the damage to Libya 's oil industry was known, have been amazingly correct. He said there had been some problems they were working on resolving, such as having to rebuild a pipeline.

He added that NOC is still aiming for oil production of 2 million barrels per day by 2015, and as soon as that goal is reached, the aim will be to produce 2.2 million barrels of oil per day.

Libya 's fourth round of exploration--stopped due to the outbreak of the country's revolution--has yet to be carried out, he said.

The year 2013 will see an increase in exploration activity, Mr. Berruien added.
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