Thursday, November 24, 2016

Libyan oil production dropped to 523,000 bpd - Sanallah - ECOFIN AGENCY

Thursday, 24 November 2016 - 10:08
Anita Fatunji

The Chairperson of the Libyan National Oil Corporation (NOC), Mustafa Sanallah (photo), has revealed that Libya’s oil production fell almost by 70 thousand barrels per day (bpd) due to electric and power issues.

Sanallah had recently announced that an explosion, believed to be caused by an electric issue, occurred at the control room of the Laheeb oil field on Tuesday. According to Sanallah, the 60,000 bpd rate that the NOC was able to sustain over the last period has stopped for the time being due to electric failures at the Al-Waha and Al-Diffa oil fields.

“Electric faults caused the drop of the oil output in addition to the explosion that took place in the control room at Al-Lahib oilfield that is run by Sirte Oil Company,” Sanallah said, adding that the situation is now under control and that the situation will be further investigated, Libyan Express reports.

He said that the technicians have managed to resolve the problems at the two oil fields and oil production is gradually returning to 600,000 bpd level, adding that the NOC is still confident that by the end of 2016, the oil production would reach over 900,000 bpd.