Economía 19-06-2017

Libyan oil production up to 885,000 bpd with Wintershall

Libya's oil output has risen by more than 50,000 barrels per day (bpd) to 885,000 bpd after the state oil firm agreed to restart production which had been stopped by a dispute with Germany's Wintershall that had cut production by about 160,000 bpd, a Libyan oil source told Reuters on Monday.

Last week, the National Oil Corp (NOC) and Wintershall reached an interim deal last week on an upstream contract dispute that had stopped production of some 160,000 bpd.

OPEC member Libya's production is expected to recover to 900,000 bpd in the short term, the NOC said last week and Libya is targeting output of 1 million bpd by the end of July.

Wintershall shut down production at its NC 96 and NC 97 concessions in the Sirte basin, around 1,000 km (625 miles) southeast of the Libyan capital Tripoli, during the dispute which began earlier this year. It also led to a shutdown at oilfields including Eni's Abu Attifel, which shares processing facilities with Wintershall.

"Through Wintershall facilities we can pump the production of other producers like Eni and other operators," the source, who declined to be name, said.

Abu Attifel, which resumed production on June 14, can pump 50,000-60,000 bpd, NOC says. Libya, which is excluded from a new OPEC pact to cut production, has a pumping target of 1 million bpd by the end of July.

Energia 16