Libya Boost For Repsol

Spain’s Repsol, operator of the 340,000 b/d capacity Sharara fields in southwest Libya, saw its overall production rise to 365,600 barrels per day of oil equivalent (boe/d) for the third quarter, up 8.2% from 338,000 boe/d the previous quarter, according to a 15 October trading statement. The restart of Sharara on 8 July – ie at the beginning of the quarter – provides the key boost. Sharara output was zero for Q2, knocking 17,000 b/d from the firm’s net production relative to 2Q13 and €261mn from its operating income (MEES, 1 August). The Sharara fields provide 40,000-45,000 b/d net to Repsol when operating normally, though recent output has been subject to interruptions including a week-long outage in mid-September (MEES, 19 September).


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