Libya sees oil production rising to prewar levels in 15 months

Libya can resume crude oil production within a matter of weeks and can return to prewar output within 15 months, according to the newly appointed chairman of state-owned National Oil Corp.

NOC Chairman Nouri Berouin said Libya was producing 1.6 million b/d before the outbreak of civil war in February. Berouin also said most of the country’s oil fields suffered no major damage and are in good condition but that minefields around the Brega export terminal could slow the resumption of normal operations.

Berouin said it is necessary to secure the fields and then to begin clearing the minefields. Increased output would require logistical support as well, most likely from the country’s foreign partners.

That view was largely supported by Ali Tarhouni, who holds the oil brief for the rebel National Transitional Council, now widely recognized internationally as Libya’s new government.

Tarhouni said NTC expects to rehabilitate a number of wells in the coming few days and that oil and gas exports would rise gradually, pending a full report from NOC concerning the state of the industry.

Tarhouni acknowledged that forces loyal to Libya’s deposed leader Moammar Gadhafi remain in the country, but he dismissed them as a spent force and said they do not represent a significant threat to industry.

NTC is fully up to the task of protecting Libya’s oil and gas fields, Tarhouni said, adding that the group has no interest, plans, or policy to invite any international forces to enhance security or protect the fields.

The remarks of Tarhouni and Berouin coincided with an announcement by the head of the Franco-Libyan chamber of commerce that representatives of Total SA will form part of a mission of French firms travelling to Libya to assess the situation next month.

Michek Casals, chamber president, said the group wants to understand how NTC is managing the crisis in Libya and what urgent measures it needs to restart the country’s oil industry.

In addition to Total, the mission is to include experts from engineering firm Alstom, defense group Eads, state defense and electronics group Thales, and telecom equipment-maker Alcatel Lucent, in addition to representatives of smaller companies working with hospitals and oil.

Meanwhile, European Union diplomats said sanctions imposed against several Libyan ports, oil companies, and more than a dozen other entities could be lifted as soon as Sept. 2.

The EU reached an agreement in principle on Aug. 31 to remove the six port authorities from its sanctions list as well as 22 other entities, including 3-4 oil companies, diplomats said.

EU governments will formally approve the decision on Sept. 1 and the move will come into force when it is published in the 27-nation bloc's Official Journal on Sept. 2.

Contact Eric Watkins at hippalus@yahoo.com.

Related Articles

PNR cuts capital spending nearly in half

02/11/2015 Pioneer Natural Resources Co. (PNR), Dallas, plans to spend $1.85 billion in 2015 following a fourth quarter in which the company reported a net in...

Study finds FLNG scheme ‘viable’ for Pandora field development

02/11/2015 A recent study has found that Cott Oil & Gas Ltd’s plans to use a floating LNG (FLNG) vessel for development of Pandora gas field in the Gulf o...

EIA: US gasoline prices to average $1/gal less in 2015 vs. 2014

02/10/2015 US regular gasoline retail prices are expected to average $2.33/gal in 2015, down from $3.36/gal in 2014, according to the Energy Information Admin...

Continental Resources completes more Springer wells

02/10/2015 Wells competed by Continental Resources Inc. last year reaffirmed the repeatability and growth potential of the Springer play in South Central Okla...

New York state decides to ban hydraulic fracturing

02/10/2015 New York state officials planned in 2015 to officially ban high-volume hydraulic fracturing, which would end a temporary moratorium that has existe...

Maryland moves forward on fracturing regulations

02/10/2015 Maryland state officials planned to draft regulations that would allow hydraulic fracturing in the Marcellus shale in West Maryland provided that n...

Fracturing becoming a common municipal ballot item

02/10/2015 Various municipalities, including Denton, Tex., have banned or sought to ban hydraulic fracturing through ballot issues while some states such as N...

Texas A&M studies water used for Eagle Ford fracturing

02/10/2015 Development of unconventional plays led to a rapid proliferation of the use of hydraulic fracturing, which has boosted US production rates. Yet, fr...

Comment: Beware of break-even and marginal-cost analyses

02/10/2015 Shale oil and gas productivity and costs vary dramatically among the different areas of a shale formation, and the difference between owning the be...

White Papers

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by

Available Webcasts



Global LNG: Adjusting to New Realties

When Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

When Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST



On Demand

The Future of US Refining

Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST


Oil & Gas Journal’s Forecast & Review/Worldwide Pipeline Construction 2015

Fri, Jan 30, 2015

The  Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal’s outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports, the webcast will be presented by OGJ Editor Bob Tippee and OGJ Managing Editor-Technology Chris Smith.
The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery—all in the context of geopolitical pressures buffeting the market.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected