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Libya's NOC Sees Full Backing for State Oil Company Unity

Source: Reuters 11/9/2015, Location: Africa

Libya's oil partners and the international community fully back keeping the National Oil Corporation united, rejecting attempts at a parallel oil revenue system by Libya's recognized government, the NOC chief in Tripoli said.

The North African OPEC producer is caught in a conflict between its recognized government in the east and a self-declared one controlling Tripoli. Each has appointed rival oil ministers and National Oil Corporation chairmen.

The original NOC headquarters remain in Tripoli, and the state oil company and central bank have until now been kept on the sidelines of the conflict, making payments according to the usual national system of distributing oil revenues.

NOC Chairman Mustafa Sanalla told Reuters current national production was at around 415,000 barrels per day with exports at 320,000-330,000 bpd, with output mainly from AGOCO and Sirte oil units, Mellitah complex and an offshore field.

He said negotiations to reopen El Sharara oilfield - closed for a year -- were in their "last stages" as well as talks to restart El Feel oilfield. Bringing those two back to production would add 450,000 bpd to national output.

Zueitina oil port is still closed because of a force majeure in place after oil guards there ordered the terminal shut. He said a force majeure was also still on 11 oilfields in Sirte basin after attacks there earlier this year.



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