Libya’s oil production recovered to more than 1mn b/d in mid-August following a collapse to just 400,000 b/d early in July. The reopening of key export terminals in the east of the country has enabled a resumption of production from oil fields in the Sirte basin (MEES, 13 July). Output has been edging up since outages to Oil Crescent terminals in late June and early July were resolved last month. Production was up to around 850,000 b/d by 10 August, 900,000 b/d by 14 August and 1mn b/d by 16 August, according to oil industry sources. But sustained output is threatened by ongoing fractures across Libya’s divided institutions, localized instability caused by industrial action and armed militias.
State-owned Agoco, a subsidiary of Tripoli-based National Oil Corporation (NOC), has increased output to 190,000 b/d following the resolution of the Oil Crescent stand-off, according to a company official cited by Reuters on 12 August. Agoco has current production capacity of about 300,000 b/d, including about 190,000 b/d from the Sarir and Mesla fields. In the wake of the blockade of the Ras Lanuf terminal on 14 June and the Hariga terminal on 28 June, Agoco’s production was confined to the 10,000 b/d Hamada field in the southwest. Production from the Eni-operated El Feel (Elephant) field is back at current capacity of around 77,000 b/d having been shut since 23 February due to a dispute over salaries (MEES, 10 November 2017). (CONTINUED - 1102 WORDS)
