As Libyan crude output continues its tentative upwards march from last year’s lows, steady gains are being made at key fields in the northeast. Production from the Waha fields in Libya’s Sirte basin doubled in the third quarter to almost 150,000 boe/d, according to Q3 results published by US oil firms ConocoPhillips and Hess in late October. Taking associated gas into account, crude output is around 140,000 b/d, the highest output since 2013.
The fields are among the most important potential contributors to the target set by state firm National Oil Corporation (NOC) to boost production to 1.2mn b/d. According to MEES calculations, Libya’s crude output to date in October is an average 990,000 b/d, up from 924,000 b/d in September and 790,000 b/d in August, but still just below the four-year monthly peak of 1.02mn b/d in July. (CONTINUED - 1182 WORDS)
