Thu. Nov 14th, 2024

Libya’s National Oil Corporation announced the restart of nine oil wells in the Sarir oil field that had been suspended.

The statement issued by the corporation stated that this measure comes within the plan to increase production, as important malfunctions in the wells were repaired, and maintenance was carried out by the teams of the Arabian Gulf Oil Company, which helped in the resumption of production of nearly 4,000 barrels per day of crude oil.

The repairs included modifications to the high-pressure power grid, repairs to leaks in oil flow lines, as well as electrical and mechanical connection to another well.

The corporation pointed to a new discovery of gas and condensate in the contract area southeast of the Lahib field, which could add 16.8 million cubic feet of gas and 626 barrels of condensate per day.

Libya currently produces about 1.2 million barrels of oil per day, reflecting stability compared to periods of declining production due to political and security turmoil.

Libya’s oil and gas minister has announced plans to increase production to 2.1 million barrels per day and increase natural gas production to 4 million cubic feet per day  in the next five years.

 

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