Production at Libyan Oil Fields Resumes

Production at Libyan Oil Fields Resumes

After a prolonged disruption, production at the Libyan oil fields of Sharara, El Feel, and Hamada has resumed, Bloomberg reports.

Production halted after a militant group shut seized key pipelines in a bid to negotiate economic concessions from the National Oil Company (NOC), Reuters reported at the time.

The NOC was able to come to a negotiated settlement with the militants, permitting it to reopen the fields, Bloomberg reports.

The Sharara field, Libya’s largest, has been closed since August 19th.

Due to the closures, Libya’s crude production fell by 361,000 barrels per day (b/d), approximately 35%, according to Bloomberg. Output slipped to approximately 660,000 b/d.

The NOC, the lead operator of the fields, is Libya’s national oil company.


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