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  • 08-06-20

    Libya's major oil field revived

    (MENAFN) On Sunday June 7 the National Oil Corporation (NOC) of Libya stated that Sharara oilfield, the major in the country, has been revived after it was stopped by tribal leaders in January.

    NOC stated that "NOC confirms the return of production at the Sharara oilfield south of the country, after lengthy negotiations by the NOC to reopen the Hamada valve, which had been illegally closed in January,".

    NOC continued that production will begin at a capability of 30,000 barrels per day, with the full capability production predictable within 90 days because of the damages resulted by postponment.

    NOC chairman Mustafa Sanalla stated that "The Libyan economy has suffered enough from the illegal blockades, and we hope that the restart of production at the Sharara oilfield will be the first step to revive the Libyan oil and gas sector and prevent an economic collapse in Libya,".

    MENAFN0806202000450000ID1100288058

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