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Reducing oil production by 100,000 barrels per day and stopping oil exports from the ESidra port, the largest oil port
The National Oil Corporation (NOC) is deeply concerned about having to reduce production in the national oil sector as a result of the inability to carry out war-ravaged storage tanks maintenance projects, the disruption of the implementation of some emergency projects, particularly the construction of storage tanks, also the maintenance of the available and blames the Audit Bureau, which has disrupted the implementation of several reservoir-related projects as well as projects to increase production capacity.
“Waha Oil Company was forced to reduce its production by about 100,000 barrels per day because there were no storage capacities due to the interruption of maritime traffic at the ports of the Sirte’s Gulf and the inability to connect the carriers and load it to avoid high inventories and thus reducing production,” said the NOC’s Chairman.
“The number of out-of-service tanks at ESidra oil port is about 11 out of 19 and the limited available storage tanks have prevented us from continuing with the available production rates, as well as leaks in the pipeline network and surface facilities between production tanks and export tanks.”
While the NOC declares that the illegal restrictions imposed by the Audit Bureau have prolonged the time of economic and effective implementation of projects, which has increased the fragility of the infrastructure and hindered projects to increase production capacity, it confirms that the opinion of the law department for the restrictions imposed by the Audit Bureau was clear that the contracts of the NOC’s companies are not subject to prior review.
“The mistakes of the Audit Bureau agent are deadly, but these mistakes will not discourage our determination in the oil sector to continue efforts to overcome these restrictions that shackle the NOC and its subsidiaries, are besieging the renaissance and development of the national economy. We will continue to discharge our responsibilities and Allah is the conciliator,” Sanalla said.
It is noteworthy that all shipments in most oil ports in the Gulf of Sirte have been suspended due to bad weather, high waves and the suspension of maritime navigation, and the Production could have continued with out reducing it, but the fragility of the infrastructure in the oil sector the prevented the production from continuing at available rates.
May Allah Bless Libya
February 4, 2022
Tripoli