Libya resumes exploration, rises crude output
Algiers, February 27, 2012
Libya has resumed oil exploration activities, and its crude output has climbed to 1.4 million barrels per day, while gas production is now at 2.3 billion cubic feet per day, the National Oil Corporation (NOC) said on Monday.
'The National Oil Corporation announced on Monday the return of exploration activity in Libya.
Seismic surveys at oil concessions belonging to the Arabian Gulf Oil company have resumed, and the Arab Company for Geophysical Survey (Agesco) has started on February 25 carrying out seismic survey operations in division 3 at NC4 concession in the Ghadames basin,' said a statement on NOC website.
'A second division will start implementing an exploration programme at concessions 44-47-51-80 in Sirte basin by the end of March,' it noted.
It said oil operations activity had resumed at all fields and oil ports and the situation in the country is 'secure and stable.
'The best proof of that (situation) is the return of output rates which are now at around 1.4 million barrels of oil per day while gas production rate reached 2.3 billion cubic feet per day,' he added.-Reuters
More Energy, Oil & Gas Stories
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn
- Taqa-led group to buy India power plants
- Iraq oil exports hit record 2.8m bpd
- Korean refiners eye more Iraq crude
- Dana starts Egypt gas plant upgrade
- Opec oil production hits new high in Feb
- Taqa-led group to buy Indian hydropower plants
- Schneider gets energy management certification
- Morocco moves ahead with $1.7bn wind farms