Libyan oil production rises to 650,000 barrels a day


Greater Noida, Jan 13 (IANS): Oil production in Libya has risen to 600,000-650,000 barrels per day from nearly 550,000 bpd in early January, the country's Minister of Oil and Gas Abdulbari Arousi said Monday.

"This follows the gradual resumption of production from the Sharara field," the minister said, referring to the oilfield in the west of the country.

He was speaking to reporters at the Petrotech 2014 international oil and gas conference here.

The 350,000 bpd capacity Sharara field had been closed due to protests and strikes since October-end, while production restarted in early January after protesters at the facility agreed to end the blockade.

Operated by Akakus, a joint venture between Libya's National Oil Corp and Spain's Repsol, Sharara is a major onshore oil field.

Arousi also said the port closures in Libya that have so far caused revenue losses of $9 billion due to the inability to export, could end by this month.

The main item of India's imports from Libya is petroleum crude and products. During 2012, India imported three percent of Libya's total crude.

Oil majors Indian Oil, Oil India and Petrotech organiser Oil and Natural Gas Corp's (ONGC) foreign arm, ONGC Videsh (OVL) are engaged in Libya's hydrocarbon sector, both upstream and downstream.

  

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Title: Libyan oil production rises to 650,000 barrels a day



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