Libya’s oil production is likely to fall below 200,000 barrels per day (bpd) as attacks on pipeline infrastructure in the region continue.
Production has dwindled from a high of 1.6mn bpd to just 350,000 bpd and is very likely to continue to fall due to ongoing major disruptions, reports say.
Pipeline explosion on Saturday left El Sarir oil field, Libya’s largest oil field, unable to pump oil to Hariga port on the Mediterranean coast.
Exports could continue thanks to significant volumes of oil stored at the port but production has been severely disrupted.
A separate attack on the Bahi oil facility took place on Friday last week also causing substantial damage. That field is operated by a joint venture made up of ConocoPhillips, Hess Corporation, and Marathon Oil Corporation.
Meanwhile, Libya’s National Oil Company stated that it will shut down all oil field operations and pipelines if security cannot be guaranteed.
“The NOC warns that the number of oil installation guards currently in the fields is not enough to protect them and to address such attacks,” Libya’s NOC said in a statement.
“If these incidents continue, National Oil Corp. will regrettably be forced to stop all operations at all fields in order to preserve the lives,” it added.
