The National Oil Corporation of Libya announced that Sirte Oil Company has achieved new and unprecedented crude oil production of over 100,000 barrels per day (bpd) compared to its average rate of 55,000 bpd, which is an all-time high in its production history, even before the oil blockade at the beginning of this year.
The Corporation said the increase was reached on Thursday, 17 December 2020, which is in record time. The production rate was attained after the implementation of the approved exceptional budget programmes. The programmes include the work over 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 programme 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 Corporation said that the budget spent for the implementation of the programmes was recovered and the capital spent on the production enhancement was achieved and returned in less than thirty (30) days.
The Corporation noted that it had presented an integrated programme for the Libyan state in September 2019 and an integrated plan to increase the production capacity of the oil and gas sector, which was approved in October 2019. Companies began implementing the plan with their operations but they were affected by the closure of oil fields and terminals and the Corona virus pandemic.
The NOC said that the increase of production at the SOC is an evidence that the positive results of these programmes are evident, as soon as oil fields and terminals were reopened.
The Chairman of the NOC, Mustafa Sanalla, appreciated all those who contributed to the feat and increasing Libya’s income in a very short time despite the low level of services, the scarcity of financial resources and the suspension of training programs. He said the motivation of the workers is their high patriotism and their love for their country, Libya.
