Exports to hit 800,000 barrels a day by end of 2011
Libya’s National Oil Corporation (NOC) hopes to increase crude oil supplies by 65 per cent to more than 1.35 million barrels a day (b/d) by the end of 2012.
An NOC document distributed to potential customers, released by Reuters news agency, shows that production by the end of December from 9 onshore and two offshore fields should reach 813,000 b/d.
This will increase to 993,000 b/d by March 2012 and hit 1.2 million b/d by the middle of the year. By the end of 2012, production is forecast to reach 1.345 million b/d.
The largest increase is expected to come from the El-Shahara field in the southwest of the country, operated by Spain’s Repsol, which is forecast to return to supplying 200,000 b/d in 2012. The field had a capacity of 290,000 b/d before the civil war erupted in March.
Production was restarted in early October and export supplies should rise to 80,000 b/d by the end of 2011.
Analysts and industry executives say the country’s oil production should hit 1 million b/d within a year in line with forecasts made by Ali Tarhouni, the current minister of oil and finance at the National Transitional Council (NTC). The NTC says state-run companies are already producing 500,000 b/d. Most of the damage caused to the oil sector occurred in offsite facilities, leaving most facilities and pipelines in a relatively decent state of repair (MEED 27:10:11).
Fieldname* | Dec-11 | Q1 2012 | Q2 2012 | Q3 2012 | Q4 2012 | % change |
Al-Jurf (offshore) | 40 | 40 | 40 | 40 | 40 | - |
Amna | 155 | 170 | 175 | 175 | 175 | 13 |
Bouri (offshore) | 30 | 40 | 40 | 40 | 40 | 33 |
Brega | 50 | 80 | 80 | 80 | 80 | 60 |
Bu Attifel | 85 | 90 | 100 | 105 | 115 | 35 |
Es Sider | 0 | 135 | 275 | 370 | 375 | na |
Melitha | 75 | 115 | 135 | 135 | 135 | 80 |
Sarir | 210 | 50 | 60 | 70 | 70 | - 67 |
Sertica | 43 | 53 | 53 | 55 | 55 | 28 |
El-Shahara | 80 | 170 | 195 | 200 | 200 | 150 |
Zueitina | 45 | 50 | 55 | 60 | 60 | 33 |
Total | 813 | 993 | 1208 | 1330 | 1345 | 65 |
*=Oil figures in thousand barrels. Source: NOC |
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