Tag Archives | Sharara Field

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 […]

Force Majeure at Libya's Largest Field

The National Oil Corporation (NOC) declared a state of force majeure at the Akakus-operated Sharara oil field as of Sunday, December 9, 2018. NOC prioritizes the safety of staff and is currently reviewing evacuation procedures following threats to their wellbeing, and the forced shutdown of the oilfield by the armed militia claiming attachment to the […]

NOC declares Force Majeure at Zawiya Oil Port

The National Oil Corporation (NOC) has declared force majeure on crude oil loadings at Zawiya port; commencing on Monday 16 July, 2018. This is a result of reduced production at Sharara following the recent attack and kidnap of four Akakus company employees (two were subsequently released). NOC has shut down and evacuated stations 186, 115B […]