Petroleum Africa
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Wednesday, April 13, 2016
Wintershall is hoping the new unity government in Libya can bring about lasting security and stability so production in the country can return to the former status quo. Over 2015 the company only saw 125 producing days, which has cut in to its bottomline in the country significantly.
Over the 2015 period not only did the company produce for roughly only one-third of the year, but its production rate was down almost two-thirds. The German firm saw flows of only 35,000 bpd for the year, a big drop from its previous average of up to 100,000 bpd during peaceful times.
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