Libya's Waha Set To Restart In December - Official

Waha Oil Co., the last major Libyan oil company yet to resume production, is set to pump crude again next month after a management change ended a crippling strike, an official at the company said Tuesday.

Khaled Othman, a Waha Oil Co. construction supervisor and one of the strike's leaders, said, "We will go back Saturday to the field, [and] I am confident [production] will start sometime in December."

Othman and other Libyan officials said employees are coming back to work after new chairman Ahmed Ammar took charge at the company. Workers had gone on strike in September to protest the leadership of Waha's then-chairman Bashir Elashahab, who allegedly had ties to the regime of strongman Col. Moammar Gadhafi.

Before Libya's conflict, which ended with the death of Gadhafi last month, Waha Oil produced more than 350,000 barrels of crude oil a day—over 20% of the country's production.

The company's fields are partly owned by Marathon Oil Corp. , ConocoPhillips and Hess Corp. --the largest Libyan oil operation with ties to foreign companies.

(Source: Wall Street Journal)

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