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Thursday, April 13, 2017
Once again Libya’s production has taken a dip as the Sharara oilfield was shut in by an unknown group who blocked a pipeline. The Sharara field had just restarted flows after a previous shut-in a week prior. NOC was hoping to boost output from Sharara to 270,000 bpd later this month.
The new blockade led state-run oil firm NOC to declare force majeure on loadings of Sharara crude from the Zawiya export terminal.
The North African country also saw production of oil, gas and condensates interrupted at the Wafa field, where an armed group closed off pipelines near the town of Nalut, according to NOC.
The state-run firm said in a statement on April 11 that the shut in of the oil and gas pipelines from the Wafa has serious repercussions for the country as the Wafa and the Algerian Al Rar Field have a reservoir connectivity and shutting down any of them will affect the other. Therefore, shutting down the Wafa field will result in losing immense quantities of oil and gas which will migrate to the Algerian side, never to be recovered.
According to the company, the shut-in is costing Libya roughly $9.8 million a day and it will face many technical problems when production is restarted from the closed wells. The technical problems associated with the restart will also cost “very large quantities of money.”
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