Oil production in largest Libyan oil field will resume

On October 11, Libya’s National Oil Corporation (NOC) said it would resume production on El-Sharara – the country’s largest oilfield.  

The National Oil Corporation said it lifted force majeure, a legal maneuver that lets a company get out of its contracts because of extraordinary circumstances, at the southwestern Sharara oil field. The corporation said the move came after it reached “an honor agreement” with forces loyal to military commander Khalifa Hifter to end “all obstructions” at the field. 

“We hope that resuming production in the El-Sharara field will be the first step to restore life to the oil and gas sector in Libya, and a start to save the economy from collapse,” NOC said in a statement. 

Photo Credit : https://commons.wikimedia.org/wiki/File:El_Saharara_oil_field,_Libya.jpg 

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