By Libya Herald reporter.
Tripoli, 11 July 2016:
Following the decision to bring together the rival of the east and west branches of National Oil Corporation (NOC), it is holding a series of meetings with its affiliate oil companies to discuss the way forward in the current situation.
Quite apart from pipelines being turned off and terminals unable to operate, it is believed that fighting and the lack of maintenance has damaged capacity at a number of fields, particularly in the Sirte basin.
Today there was a meeting in Tripoli between the acting NOC chairman Mustafa Sanalla and Mohammed Hassan Jaber, chairman of Waha Oil. It followed one yesterday, also in the capital, between Sanalla and the head of Mellitah Oil and Gas, Hussein Abu Siliana.
The issues under discussion in both cases were how to increase production in the current circumstances and the companies’ financial positions.
Talks on the same issues are expected with other NOC affiliates and companies.
Oasis is a joint venture between NOC and US companies ConocoPhillips, Marathon and Hess Corporation.
Mellitah is a joint venture with Italy’s Eni.
Libya production is down to some 325,000 barrels a day, down from the pre-revolution figure of 1.6m b/d.
