Libya News

  Add News  

Libya Sees Crude Output Rising on Better Big Oil work Conditions.

Libya’s crude production exceeded 700,000 bopd and is due to keep rising as working conditions in the conflict-ridden country improved for international companies like Eni SpA and Total SA, an official from the state oil company said.

The North African country’s crude production is due to reach 1.2 MMbpd by August and 1.7 million by March 2018 when the nation’s ports and export terminals will be operating at full capacity, Jadalla Alaokali, board member of Libya’s National Oil Corp., said in an interview in Cairo. Output at the El Feel, or Elephant, oil field is due to resume within one month, pumping 75,000 bpd, he said.

Eni and Total are working in Libya without difficulty and Schlumberger resumed operations in the country about three months ago, he said. Eni is due to start production from an offshore area in 5 years, he said.

“Eni and Total are working there with no problems, so the situation is improving every day in Libya and I’d like to take this opportunity as an introduction for those who have interest to work in Libya,” Alaokali said. “More than 45% of the land is still virgin, hasn’t been explored, so we still have large areas that haven’t been discovered, so the opportunity is there.”

Libya, with Africa’s largest crude reserves, is trying to revive its oil production and exports in spite of continuing political uncertainty. Additional production may create a challenge for OPEC and other major suppliers that agreed to pump less crude for six month starting Jan. 1 in an effort to end a global glut.

Biggest field

OPEC exempted Libya from cutting output as the nation works to restore its oil industry. The country pumped 1.6 MMbpd before a 2011 revolt set off years of fighting between rival governments and militias.

Libya’s biggest oil field, Sharara, operated by Repsol SA, re-opened in December. The Eni-run El-Feel deposit was also due to re-open then but guards demanding benefits prevented that, NOC said last month. The two fields in western Libya have a combined capacity of 450,000 bpd.


Home Advertising Our Services Contact us Login Register

Libya Add Your Topic

Dear Visitor you can add free your News, Jobs, Tenders or any topic categorized under by clicking at the appropriate link below.

  Libya Tenders  

  Libya News  

  Libya Events  

  Libya Jobs  

  Libya Jobs Seekers  

  Libya Training  

  Libya NOC News  

  Libya Government  

  Libya xGPC News  

  Doing Business in Libya  

  International Companies  

  Libyan Companies  

  Libyan Training  

  Libya Auctions  

  Libya Laws  

  Libya Regulations  

  Libya Projects  

  Libya Telecom and Technology  

  Libya Announcements  

  Libya Scholarships  

  Libya Airports  

  Libya Exhibitions  

  Libya Sea Ports  

  Libya Free Zones  

  Libya Banks  

  Libya Small business  

  Libya Finance & Economy  

  Libya Healthcare  

  Libya Real Estate  

  Libya Islamic Finance  

  Libya Industries  

  Libya Construction  

  Libya Competitions  

  Libya Agriculture  

  Libya Culture  

  Libya Demography  

  Libya Geography  

  Libya Roads  

  Libya Business  

  Libya Oil  

  Business in Libya  

  Libya Grants  

  Libya Volunteer  

  Libya Rent