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 a link to reset your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you a link to reset 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

Libya's Sarir field sees output loss due to fire, technical issues: NOC

Commodities | Energy | Electric Power | Oil | Crude Oil | Metals | Non-Ferrous | Steel | Raw Materials | Coronavirus

Market Movers Europe, Oct 19-23: Coronavirus caps oil prices as Libyan production rebounds


Platts Market Data – Oil

Commodities | Oil | Crude Oil | Marine Fuels

Marine Fuel Strategy Seminar (at MEEPEC)

Bunker Fuel | Natural Gas | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Shipping | Marine Fuels

Fujairah port's throughput returns to 'normal' after COVID-19 hit

Libya's Sarir field sees output loss due to fire, technical issues: NOC

London — Production at Libya's Sarir oil field has dropped on the back of a fire at the field's power station over the weekend, as well as other technical issues at the site, state-owned National Oil Corporation said in a statement Tuesday.

Not registered?

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

Register Now

Compound 1 at the site experienced a fire on Sunday when an electric generator overheated, resulting in a production loss of approximately 30,000 b/d.

NOC also said it has been carrying out repairs at Compound 2, which has been inoperable since May due to a technical issue.

As a result, NOC said it expects output at the field to gradually recover by 60,000 b/d from current production levels of around 155,000 b/d.

"An internal investigation is under way to determine the cause of the temperature rise and an estimated restart date post repair works," NOC added.

The field, located in the Sirte basin and operated by NOC subsidiary Arabian Gulf Oil Company (AGOCO), has proven reserves of 4.8 billion barrels.

Libya's oil production is currently undergoing an upswing despite the recent escalation in fighting in the country between the self-styled Libyan National Army and forces loyal to the UN-backed government and other militia groups.

Libya's crude output rose to 1.12 million b/d in May, the highest since June 2013, according to the most recent S&P Global Platts OPEC survey.

NOC Chairman Mustafa Sanalla has previously warned that the protracted unrest in the country is continuing to hamper its operations, undermining the country's oil sector.

Sanalla has previously said Libyan production could hit 1.4 million b/d this year, if security is maintained. Oil and gas sales account for almost all of Libya's revenues.

-- Eklavya Gupte,

-- Edited by James Leech,