Libya restarts field, strikes IOC deal
Libya
TRIPOLI, January 22, 2018 – Libya has restarted production at the Sara oilfields, operated by Wintershall, after an “unauthorised shutdown” in November 2017, the country’s National Oil Corporation announced on Sunday.
The field, with an output capacity of about 57,000 bopd, is one of many that have experienced temporary shutdowns due to violence and chaos since the country’s civil war which started in 2011.
The news came days after Shell and BP agreed to purchase Libyan oil through annual deals in what many observers saw as a sign that the country’s security situation is gradually stabilising. It was the first agreement of this type since 2013, Bloomberg reported.
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