Tag Archives | Sharara Field

$20m Fund to Support Communities near Oilfields

By John Lee. The National Oil Corporation (NOC) and a group of international partners made up of Repsol, OMV, Total, and Equinor, known as the ’Repsol Consortium’, have signed a 20-million USD agreement to support a series of sustainable development projects essential for residents adjacent to sites operated by NOC subsidiary Akakus. The 20-million USD […]

Libya’s Oil Output may Hit 6-Year High

By John Lee. Libya’s oil output is on track this month to hit an almost six-year high, according to a report from Bloomberg. Following the resumption of production at the Sharara field, the county’s largest, Libya is reported to be pumping 1.17 million barrels of crude a day. More here. (Source: Bloomberg)

NOC lifts Force Majeure at Sharara Oilfield

The National Oil Corporation (NOC) announces the lifting of force majeure at the Sharara oil field following the removal of the armed group responsible for its blockade and production loss of 1.8 billion USD. Sharara operating company Akakus has received written assurance from the Libyan National Army’s Brigadier General Al Rifi Kennah Ahmed Ali, Commander […]

Libyan Oil Production “Highest in 5 Years”

By John Lee. Libyan oil output recovered sharply last year, according to a report from Platts. It quotes National Oil Corporation (NOC) chairman Mustafa Sanalla as telling a Chatham House event on Tuesday: “We achieved our highest production and revenue levels for the past five years … with $24.4 billion transferred to the Libyan Central […]

NOC Records Highest Annual Revenue since 2013

The National Oil Corporation (NOC) recorded an average production of 1.107 million barrels per day in 2018 and total revenues of 24.4 billion USD – a five year high and 78% year-on-year increase. NOC chairman, Eng. Mustafa Sanalla presented the 2018 financial data and NOC subsidiary plans for the coming year during a press conference […]

NOC calls for Emergency Security Measures for Sharara

The National Oil Corporation (NOC) confirms that the Sharara oil field was breached on Tuesday, January 1, 2019, the third such incident in a week. An inspection team reported the theft of key operational equipment, including transformers and cables from several wells. The incident will reduce Sharara’s output by approximately 8,500 barrels per day even […]

New Security Breach at Sharara Oil Field

The National Oil Corporation (NOC) has confirmed an overnight security breach at the Sharara oil field. In the early hours of Monday, December 31, 2018, an armed group attacked a member of the site’s civil guard, physically assaulting and restraining him, before stealing six air conditioning units. In a separate incident, another group of criminals […]