Petroleum Africa
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Monday, May 9, 2016
According to officials out of Libya, the country’s state-run firm NOC, is lining up plans to restore its crude production back to levels seen prior to its civil war to oust long-time dictator Muammar Qaddafi. The news follows on the heels of reports that the country may have to shut in production due to limited storage capacity at one of its export terminals.
NOC in Tripoli hopes to ramp its production up with the backing of a new unity government; however, a full recovery of the sector could take years as a host of infrastructure has been damaged due to fighting between factions as well as with Daesh (ISIS) militants.
Daesh militants hit the al-Ghani, Mabrouk, and Dahra fields in the Sirte basin over a year ago, forcing the NOC to declare force majeure on 11 fields, and attacks on fields are continuing. A NOC official told Reuters that at least 200,000 bpd of capacity had been damaged in attacks on oil fields in the Sirte Basin.
It may take the NOC until late 2017 or 2018 to bring those fields back to full capacity, the official said, if it can afford the repairs. The first phase of a three-stage recovery plan can be implemented within three months, a second NOC official in Tripoli said, allowing fields like El Sharara and Elephant, with a combined capacity of around 430,000 bpd, to come back onstream.
All of NOC’s plans are dependent on the security situation in the country.
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