Libya Restarts Output From Key Fields As NOC Ends Force Majeure

4 Oct 2024 Issue: 67 / 40 By: Nada Ahmed

Several key Libyan oil fields have begun to ramp up output after rival administrations reached a breakthrough deal on the disputed leadership of the central bank, a crisis that has triggered politically-motivated oil blockades and halved the country’s lifeline crude exports.

Libya’s NOC on 3 October announced the lifting of force majeure “at all Libyan crude oil fields and terminals,” marking the end of weeks-long, politically-triggered oil shutdowns that have crippled the country’s lifeline crude exports (MEES, 20 September).

“We have recently received a formal security assessment concerning Sharara, El Feel, and Es Sider, which confirms that NOC can resume the operations of crude oil production and exporting operations to its customers,” NOC said in a statement. Sharara and El Feel are key oilfields in Libya’s far southwest operated by Repsol and Eni respectively. Es Sider is the name of the country’s largest oil export terminal on the bay of Sirte, though NOC is perhaps referring to the fields operated by the Waha consortium grouping TotalEnergies and Conoco Phillips with NOC which supply the bulk of the crude that makes up the eponymous Es Sider export grade. (CONTINUED - 652 WORDS)