Libya Oil Output Set For Three Year High

Libya is set for its highest monthly crude output in almost three years due to continued gains from producing fields in the southwest and repairs to power facilities that were briefly offline at the Mesla and Sarir fields in the northeast. But a dispute with German producer Wintershall rumbles on.

As of 25 May, Libya’s average crude production for the month was about 770,000 b/d, surpassing every monthly average since October 2014 when output averaged 860,000 b/d. It is also a hike of more than a third on April output, when a shutdown at the Repsol-operated Sharara fields caused average output to drop to 565,000 b/d, from 630,000 b/d in March and 680,000 b/d in January and February.

By the end of April the resumption of production from the Sharara fields had pushed output back up to 760,000 b/d, and in the second week of May it reached 814,000 b/d on the continued ramp up from Sharara and the Eni-operated El Feel (Elephant) field, and the restart of the Baida field, operated by Agoco, a subsidiary of state oil firm National Oil Corporation (NOC- MEES, 12 May). Production dropped by about 130,000 b/d to 683,000 b/d on 16 May due to a power outage at the Mesla and Sarir fields (both on block NC-65), also operated by Agoco. But speedy repairs meant that two days later output had recovered to 724,000 b/d, and by 22 May it had reached 788,000 b/d, according to local oil officials. (CONTINUED - 1002 WORDS)