3/8/2025–|Last update: 15:31 (Mecca time)
Akakos operating company for the Sharara field (the largest oil field in Libya) stated that the field recorded the highest level of production since 2018 by 310 thousand and 970 barrels per day.
Libya’s oil production reached 1.4 million barrels on July 31, while its capacitance production reached 52 thousand and 428 barrels, and gas production is 2.55 billion cubic feet.
Libya is the second largest oil producer in Africa and a member of the Organization of Petroleum Exporting Countries (OPEC), but it suffers from disturbances that often led to the closure of fields.
Two companies
It is noteworthy that the National Oil Corporation in Libya said last month that the two PP and Shell oil companies agreed with it to conduct studies to explore and develop hydrocarbons in 3 Libyan oil fields.
Major oil companies such as Italian Eni, OMV, Austrian, BB and Ribsole, announced the resumption of exploration activities in Libya last year after a hiatus of about 10 years.
The National Oil Corporation said that BP will reopen its office in Tripoli during the last quarter of this year.
It stated that it signed a memorandum of understanding with BP to study “evaluating the potential capabilities to explore and produce hydrocarbons in the obelisk and bed fields and some of the exploration areas surrounding them.”
BP is scheduled to study the potential of “unconventional” oil and gas on a larger scale inside the country, indicating the extraction of hydrocarbons from porous rock formations, which requires specialized extraction techniques such as hydraulic cracking.
The giant British Oil Company returned to Libya in 2007 with an agreement to explore and share production covering the two areas of explores and a naval area with the institution, which was later suspended due to the announcement of the force of the force majeure.
In 2022, Eni accounted for 42.5%and the agreement was implemented, while BP retained a 42.5%stake, while the Libyan Investment Corporation owns the remaining 15%, and the force of the force majeure was officially raised in 2023, which allowed the resumption of wild exploration work.
