Waha Oil to raise the country’s output as El Farag gas field gears up for second stage development
After an 8 month long pause on the project following the country's oil production hiatus that nearly crippled its economy, Waha oil is gearing up to head into its second developmental stage of the El Farag gas field
The Libyan oil company, Waha Oil announced that it is preparing to recommence the second stage of its El-Farag gas field development.
The first stage of the project was restarted in November after the end of the country’s oil production hiatus caused by the blockade placed by Haftar forces on the country’s oil institutions.
Currently, the El Farag gas field is producing 15,000 b/d of condensate and 70 MMcf/d, Ali el-Farsi, a media coordinator at Waha Oil told S&P Global Platts.
“This is a vital, important and strategic project that will support the electric power plants, and despite the scarcity of spare parts due to poor funding and the country’s conditions, we will work to operate the second phase soon,” said Waha Oil Chairman Nouri Al-Seid.
Once the second stage is completed, the field is expected to produce 180 MMcf/d and 15,000 b/d of condensate, significantly boosting the reconstruction of Libya’s power facilities and increasing the country’s national source of income.
Waha Oil operates a cluster of oil fields in the Eastern Sirte Basin, making up about a third of Libyan crude oil production, it is a subsidiary of the country’s National Oil Corporation (NOC) and produces around 350,000 b/d.
Libya continues to be excluded from OPEC production limitations on the oil and gas market caused by the effects of the coronavirus pandemic on the industry.
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