June 25, 2024

Libya’s Sharara, El Feel oilfields resumes on Saturday evening


Libya’s Sharara and El Feel oilfields have resumed production on Saturday evening, according to an announcement made by the Libyan Oil Ministry on Sunday. The resumption comes after the release of former Finance Minister Faraj Boumtari, whose detention led to the shutdown of the oil fields last Thursday.

Local tribesmen had demanded the release of Boumtari in order to allow production to resume at the two oilfields. Boumtari, a member of the al-Zawi tribe in southeastern Libya, was freed from detention in Tripoli on Saturday afternoon, leading to the subsequent reopening of the oilfields.

The El-Sharara oilfield, operated by the state oil firm NOC via Acacus company, is a significant contributor to Libya’s oil production. It produces over 300,000 barrels of crude oil per day, accounting for approximately one-third of the country’s total production. The El Feel field, operated by the joint venture Mellitah Oil and Gas between NOC and Italy’s Eni, has a capacity of 70,000 barrels per day.

Libya possesses Africa’s largest crude oil reserves, but the country has experienced significant disruptions to its production and exports due to prolonged conflict and violence since the ousting of former ruler Muammar Gaddafi in 2011. The recent resumption of production at the Sharara and El Feel oilfields brings hope for increased stability and improved oil output in the nation.

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