Attack leads to major oil production cut
by Hadi Fornaji.
The Akakus Tripoli HQ
Tripoli, 2 September:
A Libyan-Spanish joint venture oil company has reported halted a significant part of Libyan oil production, following an attack on some of its personnel by the kateeba guards who were supposed to be protecting them.
Output of some 300,000 barrels a day of of high quality El Sahara crude from the two Akakus fields in the Murzuk Basin has been suspended since the attacks. No one was available overnight for comment at the company’s Tripoli HQ . Libya Herald was also unable to reach NOC’s main joint venture partner, Repsol in the Spanish company’s Madrid offices .
However the security situation Areas NC115 and NC186, 700 miles to the south of Tripoli, has reportedly been deteriorating, with a company official briefly kidnapped by militiamen, who have been seeking to exert control of the local operations. The fields were discovered in 2010. Akakus has a further seven other exploration blocks elsewhere in the country.
When AGOCO’s Benghazi headquarters were blockaded for 15 days by armed demonstrators, the company ended up cutting 30,000 b/d of production before the interim government moved against the demonstrators.
More from Libya Herald..
- AGOCO protests blockade with first production cut
Tripoli, 4 May:
The Arabian Gulf Oil Company (AGOCO) last night began to cut production after the authorities failed to act against protestors blockading the Benghazi HQ of Libya’s largest oil ...
- AGOCO gives government ultimatum on protestors
Tripoli, 2 May:
Libya’s largest oil company, AGOCO, frustrated at official failure to clear demonstrators blockading its Benghazi HQ, says it will stop production at midnight tomorrow, if the pr...
- Ghadames wildcat comes good for NOC
Tripoli, 2 September:
The Ghadames Basin continues to prove a promising new oil horizon for Libya. The Arabian Gulf Oil Company, a wholly-owned NOC subsidiary has just published test results ...
- Wintershall’s Libya production recovering while overall profits pass €1 billion
Until it evacuated all but a small team of its expatriate employees in February last year, German energy company Wintershall was getting some 70 percent of its oil and gas production from Libya, w...
- Oil Minister Arrusi visits Zawia Oil Refinery – confirms expansion plans
By Sami Zaptia.
Tripoli, 10 January:
Oil Minister Abdulbari Arrusi held a meeting with the management of Zawia Oil Refinery in Zawia today, LANA reports.
The meeting included the NOC head ...