NOC is pleased to announce that Wintershall has agreed with NOC on an interim arrangement for the immediate resumption of production in concession areas NC 96 and NC 97, thereby putting an end to the damaging shutdown of operations in those areas. “NOC has reserved all its legal rights to ensure that Libya’s interests are upheld,” said NOC chairman Mustafa Sanalla.
“This shutdown was enormously costly to Libya. I hope we can now get on with the business of meeting our oil production targets without interruptions.”
“Total oil production in Libya as of today is 830,000 b/d, and we are targeting one million barrels by end of July, 2017as a result of the resumption ofproduction from the Wintershall and linked Abouatiffel fields, as well as from 103 A and Nafoora,” said Sanalla.
The agreement allocates to Wintershall an amount of production sufficient to cover its costs, with all remaining production being allocated to NOC. It also provides that during this interim arrangement, the parties will attempt to resolve their dispute regarding the legal framework governing the petroleum operations.
13 June 2017
National Oil Corporation (NOC)
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