NOC lifts force majeure on Sharara after Tuareg unit restores order

By Libya Herald reporter.

Tunis, 4 October 2017:

The National Oil Corporation (NOC) has lifted its force majeure order on the southwestern Sharara oilfield and production has restarted after a Tuareg unit secured it.

According to NOC, lost production during the two-day closure was worth more than $27 million.

The NOC has blamed the loss on Battalion No. 30, headed by a Major Hashemi Ramadan Abdul Fatah Al-Taraki, which it says which claims to be affiliated to the Presidency Councils’ defence ministry. It forced the field to close on Sunday evening.

Thanking the head of the Tuareg Social Council, Abu Bakr Al-Fagi, as well as the commander of the force responsible for protecting the field, Brigadier Ahmed Alal, and various other individuals for ensuring the field restarted production, NOC head Mustafa Sanalla had a barbed comment as well for the Presidency Council’s government of national accord in the statement about Sharara restarting.  It had to take control of expenditure.

“The continued increase in the budget deficit is causing the exchange rate to continue to deteriorate despite the considerable efforts of the National Oil Corporation to increase production, and thus public revenues, to reduce the state budget deficit. And everyone should be aware of the seriousness of the financial position of the state and come together to get out of this crisis.”

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