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Monday, January 2, 2017
Libya started off the new year on a positive note, seeing its production increase again. According to reports the country’s production saw over a 50,000 bpd boost from figures released just last week and 85,000 more than the 600,000 reported in early December.
A NOC official was cited by Reuters as saying the country’s production rates are now 685,000 bpd. The rise is attributed to the two-year blockade on pipelines from the Sharara and El Feel oil fields being lifted.
The Sharara, which has a capacity of 330,000 bpd, has been ramping up capacity slowly giving Libya production bumps along the way. No announcement has been made on the restart at El Feel, but when it comes back onstream it will be able to add another 90,000 bpd when at full capacity.
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