BusinessLibya

Gialo oilfield to be suspended for 10 days for maintenance

Gialo oilfield’s production will be suspended for the maintenance of the crude oil pipeline connecting the Gialo of al-Wahat district in southeastern Libya, and Waha oilfields, the National Oil Corporation (NOC) announced Monday.

“Gialo oilfield’s 130,000 barrels per day production is anticipated to be offline for ten days while Waha Oil Company (WOC) engineers replace 18 kilometres (km) of the 152 km pipeline,” according to the NOC statement.

Libya’s economy mainly depends on the oil sector, which represents about 69 percent of export earnings and accounts for about 60 percent of total GDP. Hence, one of the main reasons behind the fighting in Libya among the rival parties and terrorists groups is the control on Libya’s oil fields.

Meanwhile, Libya’s oil output rose by 90,000 barrels a day to 1.19 million a day after the force majeure had been lifted from el-Sharara oil field in early March despite the unrest in the capital, Bloomberg reported on May 2. Sharara oil field of Libya’s largest.

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