Libya plans to more than double oil output to 2.1 million bpd: NOC

Pipes are pictured at Libya’s El Sharara oilfield in this file photo. (Reuters)
Updated 06 January 2019
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Libya plans to more than double oil output to 2.1 million bpd: NOC

  • Currently, Libya produces 953,000 bpd, less than its pre-civil war capacity of 1.6 million bpd, Mustafa Sanalla said at a news conference

BENGHAZI, Libya: Libya aims to more than double its oil production to 2.1 million barrels per day (bpd) by 2021 provided security and stability are strengthened in the conflict-stricken country, the chairman of state oil company NOC said on Sunday in Benghazi.
Currently, Libya produces 953,000 bpd, less than its pre-civil war capacity of 1.6 million bpd, Mustafa Sanalla said at a news conference.
He reiterated calls for workers' security to be improved to allow production to resume at the 315,000 bpd El Sharara oil field, which was taken over on Dec. 8 by tribesmen, armed protesters and state guards demanding salary payments and development funds.
Production is expected to be up to 11,000 bpd lower when it restarts after the seizure due to looting, NOC said last week.
"What happened in Sharara discourages foreign companies," said Sanalla, who announced a visit to China in the first quarter of this year to discuss oil investment opportunities.
He also confirmed the upcoming return of BP to Libya along with Russian companies, without giving further details.
Improved security conditions in the Sirte Basin in central Libya will enable the launch of production at the Farigh gas field at 24 million cubic feet per day in three months, with an eventual output goal of 270 million cubic feet per day, Sanalla said.
 


Turkey set to begin oil and gas drilling off Cyprus

Updated 21 February 2019
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Turkey set to begin oil and gas drilling off Cyprus

  • “In the coming days we will start drilling with two ships around Cyprus,” Turkish foreign minister said
  • Turkey and the Cypriot government have overlapping claims of jurisdiction in the eastern Mediterranean

ISTANBUL: Turkey will begin drilling for oil and gas near Cyprus in coming days, state-owned news agency Anadolu reported Foreign Minister Mevlut Cavusoglu saying on Thursday, a move that could stoke tensions with neighboring Cyprus and Greece.
Turkey and the internationally recognized Greek Cypriot government have overlapping claims of jurisdiction for offshore oil and gas research in the eastern Mediterranean, a region thought to be rich in natural gas.
“In the coming days we will start drilling with two ships around Cyprus,” Cavusoglu was quoted as saying in a speech to a business conference in western Turkey’s Aydin province.
“Let those who come to the region from far away, and their companies, see that nothing can be done in that region without us. Nothing at all can be done in the Mediterranean without Turkey, we will not allow that,” Cavusoglu said.
Turkey launched its first drillship “Fatih” in October to drill off the coast of Turkey’s southern Antalya province. It said a second ship that it purchased would operate in the Black Sea, but was diverted to the Cyprus area.
Breakaway north Cyprus, which is supported by Turkey, says any offshore wealth also belongs to them, as partners in the establishment of the Republic of Cyprus in 1960.
The island was divided in 1974 after a Turkish invasion triggered by a brief Greek-inspired coup. Countless peacemaking endeavours have failed, and offshore wealth has increasingly complicated peace negotiations, with Greek Cypriots saying the matter is not up for discussion.