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Libya Output Resumes 'Reaches 500,000 Barrels Per Day'

War-torn Libya’s gradually resuming oil output has now reached half a billion barrels per day, according to the country’s interim oil minister, reports have said.

 

"As of an hour ago we are up to 500,000 barrels per day with the Sharara field resuming operation", Ali Tarhouni told a news conference in Benghazi on Tuesday afternoon, Reuters reported.

Spanish oil group Repsol confirmed it had restarted production at Sharara with an output of 30,000 barrels per day and growing, according to a company statement on Tuesday.

Production is still a long way off from the 360,000 barrels per day Repsol was producing before Libya was thrown into a civil war earlier this year, but confirms statements by the country's interim government the National Transitional Council that output is returning.

Repsol had exploration contracts in several areas of Libya before the war but only produced in the Murzuq Basin area, located in the south west, where installations were less damaged than in the east.

Repsol engineers inspected equipment at the giant El-Sharara field for damage from looting and sabotage last week.

It is thought that the death of ousted leader Colonel Muammar Gaddafi will hasten the timescale of resuming oil output in Libya, where many fields remain largely abandoned due to security concerns.

 

Upstream Online

 

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