Sharara Oilfield to Resume Operations

The Sharara oil field is to resume operations after an agreement was reached with the armed group that had shut it down last month, reports the Daily Star.

The field was shut as an armed group objecting to the appointment of the Petroleum Facilities Guard (PFG) to help supervise security at the facility.

"Negotiations were held yesterday and today it was confirmed that the Sharara oilfield will resume operations," a source told Reuters on Monday.

"Instructions were given to NOC management and Akakus company to go ahead," he said, adding production could start late on Monday or early on Tuesday.

The Sharara field is operated by Akakus, a joint venture between the National Oil Corporation (NOC) and Spain’s Repsol. In normal production it can pump around 350,000 bpd.

(Sources: Daily Star, Reuters)

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