Output at Libya's Sharara Ramps Up

According to reports out of Libya, production is beginning to climb following the lifting at the Al Sharara oil filed earlier this week. The field’s output since it came back online Sunday, has so far ramped up to about 110,000 barrels per day. Country-wide, production is estimated at around 500,000 bpd.

The restart of production following the latest truce for National Oil Corp (NOC) who has been struggling with security issues with the on again and off again truces. Fighting has seen its assets repeatedly damaged and shut in.

On Sunday NOC announced that it has reached an honor agreement – under which the Petroleum Facilities Guards (PFGs) would abides, ending all obstacles that faced Al Sharara Field in a way that guarantees there will be no security breaches and in a way that enables the National Oil Corporation to lift the force majeure status and resume production in Al Sharara Oil Field.