The National Oil Corporation declared force majeure on the Sharara oil field on Wednesday.
In a letter to foreign partners and customers, the corporation stated that force majeure would not apply to oil production loading and unloading operations.
The institution further announced that it would provide an update once the circumstances that prompted the declaration of force majeure had resolved.
On Tuesday, the National Oil Corporation announced a partial reduction in production from the Sharara oil field.
The reduction was attributed to force majeure circumstances resulting from the sit-ins of the “Fezzan Movement” group.
In a statement obtained by “Ain Libya”, Akakus Oil Operations Company, which manages the Sharara field, announced the gradual cessation of its crude oil production operations, effective yesterday, Saturday.
The company cited the demands of the people of the south, supported by the so-called “Fezzan Movement,” as the reason for the cessation of crude oil supplies from the Sharara field to the Zawiya port.
It’s worth noting that the Sharara field is one of the largest in Libya, with a production capacity of 300,000 barrels per day. Located in the Murzuq Basin in southern Libya, the field is managed by the National Oil Corporation through a joint venture with Spanish Repsol and French Total.
Last update: August 7, 2024 - 23:29
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