Waha oil field may start producing by year end after suffering disruptions amid regional fighting
Libya, the holder of Africa’s biggest oil reserves, will produce as much as 800,000 barrels of crude a day by the end of this year, the chairman of state-run National Oil Corp. said.
Libya’s oil industry will recover more quickly than the International Energy Agency predicts after suffering disruptions this year amid fighting that engulfed the country, Nuri Berruien said on Sunday in an interview in Doha, Qatar. The nation currently pumps 600,000 barrels a day, he said.
The IAE stated in a November 10 report that Libya’s output capacity will reach an average of 800,000 barrels a day in the first quarter of 2012, then rise to 1.17 million barrels a day in the fourth quarter of next year. The Paris-based IEA doesn’t know “the facts on the ground,” Berruien said.
Libya produced 345,000 barrels a day in October, more than triple the 100,000 barrels it pumped in September, according to data compiled by Bloomberg. The country produced almost 1.6 million barrels a day in January, before protests against the against the government of Muammar Qaddafi flared into armed rebellion.
Libya is using 140,000 barrels a day and exporting the rest, Berruien said. It also exports naphtha, he said.
The country’s Waha oil field is expected to start producing by the end of this year and will pump more than 400,000 barrels a day at full capacity, Berruien said. The Elephant oil field, or “El Feel” in Arabic, started producing on Nov. 11, while the offshore Bouri field will begin pumping any day, he said.
Ras Lanuf refinery may resume operations by the end of the year, he said. The facility is Libya’s biggest plant, with a processing capacity of 220,000 barrels of crude a day, according to Bloomberg data. Abdo A. Ahmed, the acting chief executive officer of Libyan Emirates Refining Co., the plant’s owner, said in an interview on Oct. 17 that Ras Lanuf might start operations as early as November.
Libyan gas exports through Eni SpA’s Greenstream pipeline to Italy reached 300 million cubic feet a day, Berruien said. Shipments through the pipeline resumed last month.