Libya may stop oil production because of armed conflict

Baku, February 17, AZERTAC

National Oil Corporation (NOC) of Libya may suspend oil production at all of its oil fields due to the military conflict.

Repetition of armed attacks on deposits can lead to migration of the technical staff of oil fields and oil companies.

We are experiencing difficulties in ensuring the safety of workers. Operations in the fields have become more difficult and almost impossible due to the lack of adequate and safe living conditions for workers, says the report.

The company also called on the Department of Defense to take appropriate measures to protect the oil fields from assault and vandalism.

In case of continuation of these incidents, National Oil Corporation may stop all operations on all the oil fields, the company says.

Libya, a member of OPEC has the largest reserves of hydrocarbons in Africa. Before the start of the conflict, daily oil production reached 1.6 million barrels, in February, 2011. In 2014 daily oil production was a little more than 430 thousand barrels, while production level fell to about 350 barrels a day in January in January, 2015.

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