Tag Archives | oil production

OMV Restarts Production; Increases Stakes in Libyan Fields

Austria’s OMV has announced that, as a result of the improvement in the political and security situation in Libya, it has successfully started up production at both the Sirte and Sharara oil fields. The Sharara fields are located in the Murzuq basin. In Q4/2016 OMV’s production from Libya amounted to approximately 3,000 bbl/d. OMV also […]

NOC Chairman: Oil Production to reach 2.5m bpd by 2020

By Adam Nathan. Mustafa Sanalla, the colourful chairman of Libya’s National Oil Corporation (NOC), has revealed ambitious plans to increase Libya’s oil production to 2.5 million barrels of oil a day by 2020. Sanalla, also revealed plans to expand Libya’s refining capacity to 1 million barrels of oil a day and gas production to 1.3 […]

Oil Production hits Three-Year High

By John Lee. Oil production is Libya is current at a three-year high, according to Libya Herald. During a visit to the Jalo oil field in south-east Libya, National Oil Corporation (NOC) chairman Mustafa Sanalla reportedly said output was now running at “up to” 708,000 barrels per day (bpd). (Source: Libya Herald)

Oil Production rises to 685,000 bpd

By John Lee. An official from the National Oil Corporation (NOC) has told Reuters that Libya was producing oil at a rate of 685,000 barrels per day on Sunday, up from an average of roughly 600,000 bpd in December. The official declined to give details of operations at individual oil fields. Output is understood to […]

Sharara Oilfield Resumes Production

The National Oil Corporation (NOC) has announced that production at the Sharara oilfield reached 58,000 barrels on Wednesday, according to a report from Reuters. The NOC confirmed on Tuesday the reopening of pipelines connecting the Sharara oil field to Zawiya refinery, and the El-Feel [El Fil, Elephant] oil field to the Mellitah complex. The pipelines […]

Oil Production to reach 900,000 bpd “in the near Future”

A spokesman for the Presidential Council of the Government of National Accord (GNA) has said that the government plans to increase oil production from 600,000 bpd to 900,000 bpd “in the near future“. Ashraf Al-Thoulthi told Tunis-Afrique Presse (TAP) that this is part of a series of measures aimed at strengthening the Libyan economy and […]

Libya Cannot Participate in OPEC Cuts, warns Sanalla

Libya is in such a dangerous economic situation that there is no way it can participate in OPEC production cuts for the foreseeable future, NOC chairman Mustafa Sanalla told delegates at the 8th Arab-Austrian Economic Forum in Vienna. Sanalla said Libya’s oil production had more than doubled since the lifting of force majeure at Oil […]

$2.5bn Investment needed to hit 800,000 bpd

By John Lee. The chairman of Libya’s National Oil Corporation (NOC) has said that $2.5 billion must be invested to raise its crude oil production to 800,000 bpd next year, from around 590,000 bpd currently. Mustafa Sanalla, speaking on Tuesday following talks in London, said Libyan production of crude oil had increased from around 290,000 […]