The rollercoaster ride of Libya’s crude oil production took a sharp dip in late March with the closure of the Repsol-operated Sharara fields (NC-115 and NC-186), the country’s largest oil producing concession, and the Wafa wet gas field in the Ghadames basin near the Algerian border. Overall output dropped by 252,000 b/d according to reports citing NOC officials.
Production had rebounded to more than 700,000 b/d in the third week in March following a drop of 100,000 b/d earlier in the month (MEES, 24 March). NOC said on 21 March that it had plans to increase output from Sharara by 70,000 b/d from 221,000 b/d in the weeks to come. The fields, which had pre-revolution capacity of 340,000 b/d, resumed production in December (see chart MEES, 24 March ). (CONTINUED - 2048 WORDS)
