Tag Archives | oil production

Wintershall Boss on Libyan Production

Rainer Seele (pictured), Chief Executive Officer of BASF subsidiary Wintershall, has said he is unable to forecast when the company’s Libyan production would return to the 100,000-barrel-a-day level it had before the revolution in 2011. Current output is running at about 80,000 barrels a day, and he said that the “technical condition of the infrastructure […]

Chairman of NOC meets Chairman of Total

National Oil Corporation (NOC) Chairman Nuri Berruien [Nuri Balrwin] has met with Mr. Christophe de Margerie, Chairman and CEO of French oil and gas company Total to discuss cooperation in the oil and gas sector. Exploration was in important agenda item, with Total having exploration blocks that it had won during public bid rounds. They […]

Libya May Seek New Oil Bids

Libya’s new Oil and Gas Minister, Dr. Abdulbari Alarusi [Al Arusi], has said the country could proceed with a new round of oil exploration and production agreements, but the priority for now is to maintain pre-war output levels. Speaking to Reuters, he said: “Our priority is to maintain the production at 1.5 million barrels per […]

Repsol to Resume Oil Drilling in Libya

Spanish oil firm Repsol is reported to be making final preparations to resume drilling in Libya early next year. The company currently has rights to nine blocks, seven of which, totalling 16,185 km2, are exploratory; and two of which, totalling 1,566 km2, are in operation. It made a discovery at block NC-115 in January 2011, […]

NOC Targets 2.2m bpd Oil in 5 Yrs

Libya has increased its oil production much faster than analysts had expected after last year’s civil war, to a current level of around 1.6 million bpd, according to a report from Reuters. But in recent months operations at refineries and terminals have been disrupted by political activists, as happened this week at Zawiya refinery, which […]

Libya’s Hydrocarbon Wealth

While Libya may have its problems, it has the great fortune to be sitting on a wealth of oil and gas to support its development. The country is currently producing around 1.6 million barrels a day of oil, and expects to increase this by 30,000-40,000 bpd by early 2013, when repairs to a pipeline in […]

Wintershall Targets Pre-War Output in 2013

Wintershall, the oil and gas arm of German chemicals group BASF, hopes to restore its oil production in Libya to pre-war levels next year. Martin Bachmann, Board member and head of exploration and production said: “The plan is then for next year to come up to pre-war production levels, witch were around 100,000 barrels per […]

NOC Expects to Reach Crude Target by Feb

The chairman of Libya’s state-run National Oil Corporation (NOC) has told Bloomberg that crude oil output will increase to a target of 1.7 million barrels a day by February. Nuri Berruien [Nuri Balrwin] (pictured) said the country currently pumps 1.55 million to 1.57 million barrels a day. “The situation on the market caused production disruption, […]