BusinessLibya

Sharara’s production increases to 135M bpd

The production of el-Sharara oilfield increased to 135 million barrels per day, four days after the force majeure was lifted at Libya’s biggest oilfield of the original production 350,000 bpd.

The National Oil Corporation (NOC) declared on 4 March that production is expected to resume its regular output in the coming days.

“Plans are also in place to repair the 20,000 barrels per day lost production capacity destroyed by looting and vandalism during the blockade,” according to the NOC.

Libya lost 26.460 million barrels of oil, which could have been exported within 84 days, the period during which the oil field was closed.

The losses incurred by the shutdown of the field in December have reached $1.8 billion, according to the NOC. So-called Fezzan Anger Movement had captured the oil field to stage protests demanding better services in the area.

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