Libya’s Largest Oil Field Reopened

Libya’s Largest Oil Field Reopened

Libya’s largest oil field, Sharara, has resumed production after workers had shuttered the 270,000b/d field. The field is expected to return to its usual output within few days, Oil Price informed.

The announcement that production was restarting at Sharara followed an emergency meeting of the NOC board and Sharara’s operating company, in which NOC’ Chairman, Mustafa Sanalla, ordered a review of ambulance services and an upgrading of medical provisions for employees, according to an earlier NOC statement, Reuters stated.

Sharara was producing nearly a third of Libya’s national output of 835,000b/d earlier this week.The southwestern field reopened in December after a two-year pipeline blockade was lifted, but there have been temporary shutdowns several times since then because of local protests. The field is operated by the NOC in partnership with Repsol, Total, OMV and Statoil.

It worth noting that, Libya is trying to boost production to 1.25mb/d before the end of the year. The OPEC member produced more than 1.6mb/d before Libya’s 2011 revolution, but since then output has been crippled by protests, political divisions and armed conflict.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.


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