Monday, Apr 15, 2013
By Summer Said
DUBAI--OPEC-member Libya has restored its production to the levels it reached before the start of the civil war in 2011, the country's Deputy Prime Minister Awad al-Baraasi said Monday.
"As for the oil sector, oil terminals and refineries have been restarted and oil production has returned to the pre-war levels," Mr.al-Baraasi told an energy conference in Dubai.
Mr. al-Baraasi didn't give a figure for Libya's current production, but the North African country, a member of the Organization of the Petroleum Exporting Countries, used to produce 1.7 million barrels per day before of the uprising that toppled long-time leader Moammar Gadhafi in 2011.
Last month, the country pumped 1.325 million barrels per day, according to a survey of industry and official sources conducted by Dow Jones Newswires.
Libya, holder of Africa's biggest crude reserves, has fast recovered its oil production since the overthrow and killing of Mr. Gadhafi but foreign companies still complain of infrastructure constraints, tough contract terms and persistent insecurity.
Since the war, oil and gas facilities have frequently been the target of protests and attacks by militias.
Last month protesters blocked the entrance to northern Libya's Gialo field, which is controlled by Waha Oil Co. and feeds crude into a pipeline to the Es Sider export terminal. They were demanding the company use locally-hired drivers and vehicles.
Oil minister Abdelbari al-Arusi said last week the security situation in the country continues to improve "despite being amplified by the media."
Libya's National Oil Corporation owns Waha Oil in partnership with U.S. firms ConocoPhillips (COP), Hess Corp. (HES) and Marathon Oil Corp. (MRO).
Write to Summer Said at summer.said@dowjones.com
(END) Dow Jones Newswires
15-04-13 1205GMT
