Libya’s Sharara Oilfield Reaches Seven-Year Production Peak at 310,970 Barrels Daily
Libya’s flagship Sharara oilfield has surged to its highest production levels in seven years, now averaging 310,970 barrels per day, according to operator Akakus Oil Operations. The dramatic increase follows a successful field-upgrade campaign that returned well H-49 to service on July 30, contributing an additional 1,450 barrels per day to the nation’s output.
Located in the Murzuq Basin of southwest Libya, Sharara now supplies nearly a quarter of the country’s total crude production, which the National Oil Corporation recently estimated at 1.3 million barrels per day. The production boost comes at a critical time for Libya’s economy, with energy analysts noting that every 10,000 barrel-per-day increase at Sharara translates into tens of millions of US dollars in additional monthly revenue.
Several other wells were reactivated during July, with audited production figures expected later this month. Government officials are hailing the achievement as an encouraging sign for stabilizing production across all fields after years of shutdowns linked to conflict and infrastructure damage.
Source: libyanexpress.com
