MOSCOW (Pakistan Point News / Sputnik - 07th June, 2020) Libya's National Oil Corporation (NOC) on Sunday announced that oil production, which was suspended for over four months, has resumed in the Sharara field in the southern part of the country.
"National Oil Corporation (NOC) confirms the return of production at the Sharara oil field south of the country ... The first production phase will start at a capacity of 30,000 barrels/day. Production at the field is expected to return to full capacity within 90 days due to the damages resulted by very long shutdown," the NOC said in a press release.
The suspension of production for 142 days cost the oil corporation more than $5.2 billion, according to the press release.
The work at Sharara, the country's biggest oilfield, has been on hold since January as NOC has declared a force majeure after Field Marshal Khalifa Haftar, the head of the Libyan National Army, ordered to block Libyan ports, which were used for oil exports.
