By Sami Zaptia.
London, 23 October 2020:
Libya’s state National Oil Corporation (NOC) announced today the lifting of force majeure at Sidra and Ras Lanuf ports.
It said instructions have been given to initiate production arrangements, taking into account security and public safety standards and safety of operations. It confirmed that foreign forces have left the port area enabling oil operations and exports to start.
The NOC said it appreciates the efforts made by all local and international parties and pledges to adhere to the professional and non-political constants and to continue to perform its duties with all impartiality.
It added that start of production from fields of Al-Waha and Al-Harouj companies, production is expected to reach 800,000 barrels per day within two weeks and exceed one million barrels within 4 weeks.
It also said that the production of gas feeding the electric power production units in Zweitina and North Benghazi will increase.
However, it said that the failure to obtain sufficient financial allocations during these weeks to pay off the accumulated debts on the oil sector and the budgets needed to conduct maintenance operations and repair damage caused by the he shutdowns throughout the year 2020 will prevent its ability to maintain the mentioned production rates, let alone return to pre-closure production levels.
