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April 30, 2016

Libya destroyed Petroleum industry seeks ways for recovery

Libya destroyed Petroleum industry seeks ways for recovery

Libya National Oil Corporation (NOC) has set an ambitious goal – restore production to the levels at which it was before the civil war in 2011, and which had fallen during the years of violence and disruptions in production, officials said.
Oil production in Libya is now less than a quarter of the 1.6 million barrels per day, that country produced before the fall of Muammar Gaddafi’s regime, and the NOC, based in Tripoli, hopes to quickly increase it with the support of the new government of national unity.
However, full recovery may take years due to strikes of petroleum industry workers, political squabbles and militant attacks of “Islamic state”.

Over a year ago the jihadists attacked the fields of Al-Ghani Al-Mabrouk and Dahr in the Sirte Basin, forcing the NOC to declare a state of emergency on 11 fields.
The representative of the NOC in Tripoli told Reuters that as a result of attacks on deposit in the western basin of Sirte – the richest in Libya – production fell by about 200,000 barrels a day.
NOC may take some time before the end of 2017 or beginning of 2018, to restore the old power fields, the official said, if corporations have enough money to repair.
The first phase consists of three stages of the recovery plan will be implemented within three months, another representative of the NOC said in Tripoli that will return the deposit to the El Sharara and the Elephant, a total capacity of 430,000 barrels per day.

However, the restoration of other fields, especially those which was under directly strikes, as well as supplying the largest shipping terminals Libya – Ras Lanuf and Es Sidr – it may take more time, he added.
It may take years for the restoration of destroyed infrastructure in the ports, delaying the start of fields supplying them.
“All these plans are dependent on safety if proper and reliable protection of oil facilities will not be provided, our plans will be jeopardized”, – said the second official.
However, industry sources do not expect to increase production above the level of 600,000 barrels per day in the next few months.

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