Sirte oil reports historic production rates in record time
Sirte oil announces reaching 100 thousand barrels per day in just months after lifting of oil blockade
According to the Libyan National Oil Corporation (NOC), Sirte Oil and Gas Production and Processing Company achieved a historic crude oil production rate in record time.
The NOC reported in a press release, that Sirt oil had exceeded 100,000 barrels per day (BPD) an increase of nearly double pre-blockade production rates at the start of this year, which were 55,000 BPD.
The NOC called the achievement unprecedented and noted that it was accomplished in record time through the implementation of the approved exceptional budget programs.
The program includes the workover of 24 oil wells, the conversion of the artificial lift methods from gas lift to the installation of electric submersible pumps, and the implementation of the development program for the El-Harach layer in South Zelten by drilling nine development wells in addition to executing rig-less wells interventions, including activation by acidization , hydraulic fracturing, and some other restoration activities.
The chairman of the NOC, Mustafa Sanalla personally congratulated the head of Sirte soil and its many members and employees who contributed to the historic success.
“In my name and on behalf of my colleagues, the members of the Board of Directors, I thank Sirte Oil and Gas production company in all its administrative levels, from the Board of Directors, general managers, managers, supervisors, engineers, and technicians and all those who contributed to this great work of doubling production and increasing Libya’s income in a very short time.” The chairman said in the celebratory phone call.
Sanalla also added that this feat was reached despite great obstacles in the way that includes, “Reduction of the Libyan Central Bank ( CBL ) to the budgets needed by the NOC to run the sector, the low level of services, the scarcity of financial resources, and the suspension of training programs, but the company’s workers have withstood and performed an extraordinary job, and their only motivation was high patriotism and their love for their homeland and their affiliation with the oil sector.”
The NOC also noted that the budget spent for the programmes and capital spent on production enhancement was returned in less than thirty days, adding that it confirms that investments in Libya’s oil sectors are one of the country’s most vital projects in terms of profitability and consistency.
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