Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Libya's NOC lifts Sharara field force majeure, resumption of production expected shortly

Energy | Thermal Coal | Electric Power | Emissions | Renewables | Oil | Crude Oil | Metals | Steel | Raw Materials

Market Movers Europe, Oct 21-25: Putin hosts heads of state at Russia-Africa Summit, as Brexit taints EU carbon market

Oil

Platts Market Data – Oil

NGL | Oil | Crude Oil | LPG | Oil Risk | Petrochemicals

Platts University New York

Natural Gas | Oil

Eni starts producing gas, condensate at Nigerian Obiafu-41 discovery

Libya's NOC lifts Sharara field force majeure, resumption of production expected shortly

London — Libya's NOC has lifted force majeure on operations at the Sharara field after almost three months following the removal of an armed group that had occupied the site, the state-owned company said Monday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Production at the country's largest oil field "is expected to resume within the next few hours, with regular output to be reached over the coming days," NOC said in a statement.

This paves the way for Libya to boost production to over 1 million b/d for the first time since early-December.

"NOC has received assurances that site security has been restored, verified by our own inspection team, enabling staff to return to work," Mustafa Sanalla, chairman of NOC, said.

The field has been shuttered since December 8, 2018, after armed groups, with the help of local people, occupied its site in protest at economic conditions and frequent power outages in the south of the country.

But in early-February, General Khalifa Haftar's Libyan National Army captured the Sharara field after clashes with forces loyal to the UN-backed Government of National Accord in the southwest of the country.

Oilgram News

Platts Oilgram News brings fast-breaking global petroleum and natural gas news every day covering supply and demand trends, corporate news, government actions, exploration, technology, and much more. Click on the link below and we will set you up with a free trial.

Free Trial

NOC said the blockade had cost it $1.8 million and that plans "are also in place to repair the 20,000 b/d lost production capacity destroyed by looting and vandalism."

Last week, NOC officials had traveled to UAE to meet with a number of Libyan and international parties in the UAE to discuss security measures necessary to solve the crisis. Libya's oil industry has been at the mercy of groups vying for control of valuable assets, with armed attacks on key pipelines and production facilities since the 2011 civil war.

NOC said Akakus Oil, a joint venture between NOC, Spain's Repsol, Norway's Equinor and Austria's OMV, which operates the field, had "received written assurance from the officials from the Libya National Army "that all individuals subject to Public Prosecutor arrest warrant have been removed from the field and will not be readmitted to the site."

"Additional security measures for on-site staff are being implemented, with perimeter security and safe "green zones" a priority," the statement said.

Crude output recovered in 2018 to an over five-year high of 1.1 million b/d, even though security and political challenges continued to impede the sector. Production fell back to 850,000 b/d in January, the lowest since July, due to the Sharara outage, according to the most recent S&P Global Platts OPEC Survey.

-- Eklavya Gupte, eklavya.gupte@spglobal.com

-- Herman Wang, herman.wang@spglobal.com

-- Edited by Pankti Mehta, newsdesk@spglobal.com