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Thursday, September 12, 2013
While the Libyan government has not reached any agreement with the protesters who have basically reduced its production and exports to nothing, there are expectations that two fields could reopen soon.
However, trading and shipping sources told Reuters this is unlikely to happen as the situation had not changed since the end of last week. Only one port in the eastern part of the country was still operational, but any crude exports are earmarked for the Zawiya refinery.
Protesters have been blocking the various fields and are asking for a host of different demands ranging from pay, management issues as well as calls for greater regional autonomy, which makes negotiations complicated.
“I am hopeful production will resume soon and I expect the valves of El Feel and El Sharara fields to open in the next few days,” one high level Libyan oil official said in the Reuters report. The two fields have a capacity of about 500,000 bpd.
An armed group blocked the pipeline linking the major El Feel and El Sharara fields to the ports of Mellitah and Zawiya two weeks ago. They have a combined capacity of around 500,000 bpd.
Oilfields belonging to NOC subsidiary AGOCO still remain closed. AGOCO has a production capacity of some 425,000 bpd.
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