Latest figures from Libya’s NOC imply that crude output has not only rebounded from August and September’s near-nationwide shut-ins (MEES, 4 October) but is running at the highest level in over a decade. NOC on 17 October reported crude and condensate output of 1.327mn b/d. This implies production of around 1.28mn b/d for crude alone, above July’s 11-year monthly high figure of 1.24mn b/d.
NOC has made a series of recent bullish upstream announcements in regard to expanding capacity across several concessions with drilling and workover activity – activity which apparently continued throughout the shut-ins (MEES, 11 October). Most recently on 14 October NOC said that three recently-drilled wells at the Repsol-operated Akakus/Sharara concessions in Libya’s far southwest were ready to be placed on production adding 8,000 b/d. (CONTINUED - 131 WORDS)