Petroleum Africa
Find us on: 
Thursday, October 8, 2009
Suncor Energy Inc. (formerly Petro-Canada) has seen production on its Libyan operations cut back 40%. Production at the Libyan fields, operated by Suncor, has been cut to about 50,000 bpd. Suncor’s share of production is now about 6,000 bpd.
The cut in production is attributable to OPEC quotas being adhered to. “This is in line with OPEC quotas, so everybody has to take their part on the quota system,” said Suncor spokesman Brad Bellows. “We’ll work with partner in the national oil company to get clarity around go-forward volumes and timing.”
In September the company issued tenders for an extensive drilling program in Libya, related to a series of deals cut two years ago by Petro-Canada with the Libyan government to spend $7 billion on field redevelopment and exploration programs with the state oil company. The contracts, which have terms of 30 years, saw Petro-Canada commit 50% of all development costs in exchange for 12% of the production.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
