By Sami Zaptia.
London, 11 October 2020:
Libya’s state National Oil Corporation (NOC) announced that it has reached – an honorary agreement – according to which the Petroleum Facilities Guard (PFG) is obligated to end all obstacles facing the Sharara field and to ensure that there are no security breaches and that the NOC can raise the status of force majeure and start production from the Sharara oil field.
Accordingly, the National Oil Corporation announced the lifting of the force majeure status as of Sunday, 11 October 2020, and issued instructions to the operator, Akakus, to initiate production arrangements, taking into account the standards of security, public safety and safety of operations.
The NOC pointed out that it had, under the auspices of the United Nations Mission in Libya, addressed the issue of security arrangements for oil fields and ports in the Hurghada, Egypt meetings this month, which contributed positively to overcoming the difficulties and obstacles facing the stability of operations in the Sharara field and its stations.
NOC said that while it appreciates the efforts made by all local and international parties, it pledges to adhere to the professional and non-political constants in any arrangements related to tasks and responsibilities affecting its competence, affirming that disposing of oil revenues is a matter for the executive authority in the country.
