Libya‘s oil production stands at about 935 000 bbl/d this week after touching as high as 950 000 bbl/d late last week, Libyan oil sources said on Tuesday.

The National Oil Corporation (NOC), which is targeting one-million barrels a day by the end of July, received a boost this month when it reached an interim agreement with Germany‘s Wintershall to resume production amid a contract dispute.

Libya, a member of the Organization of the Petroleum Exporting Countries, has been exempted from OPEC-led supply curbs as it tries revive its battered oil industry. It had produced more than 1.6 million bbl/d before a 2011 uprising.

Omran al-Zwai, a spokesman for Arabian Gulf Oil Company (AGOCO), an NOC subsidiary, said output had been as high as 950 000 bbl/d in recent days, rising from about 885 000 bbl/d at the start of last week.

Production has remained volatile in a nation that has suffered years of violence and political chaos.

One Libyan oil source said NOC was repairing several leaks in pipelines that connected to the Es Sider and Zueitina export terminals.

The leaks were due to prolonged shutdowns caused by political rows, blockades by protesters and armed conflict.

Officials from Sirte Oil Co, another NOC subsidiary, said tests were being carried out at Laheeb oil field, which had been shut for maintenance, with a view to reopening the field.

Laheeb previously produced 8 000 bbl/d to 10 000 bbl/d.

Source: Reuters



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