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 had been blockaded at a key valve at the town of Rayayina since November 2014, in the case of the Sharara line, and since April 2015, in the case of the El-Feel line.

Chairman Mustafa Sanalla said:

This is a very significant event, which will help restore our economy. We will add 175,000 barrels per day to national production within one month and 270,000 b/d within three months.

"We project that at current oil prices, the opening at Rayayina will add $4.5 billion to our projected revenue next year. The important thing now is to ensure that the benefits are felt across the country.

The Sharara field, operated by a joint venture between NOC and a consortium of Spain's Repsol, Total, OMV and Statoil is about 800 km to the southwest of Tripoli and has a production capacity of about 330000 bpd.

El-Feel field is 200 km to the southwest of Sabha and operated by a joint venture between Italy's ENI and NOC with production of around 90,000 bpd.

(Sources: Reuters, NOC)

No comments yet.

Leave a Reply