Libya: Government Expects Return to Full Production Capacity Next Year
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Friday, 02 December 2011 |
Libya’s new Oil Minister, Abdulrahman Ben Yazza (pictured), expects that the country will be able to return to full oil production capacity by the end of 2012. "I think it will be feasible. We'll work very hard to achieve that target date, and hopefully even sooner. We'll give it all of our effort to do it," said Ben Yazza in his first interview since assuming the position.
Oil firms operating in Libya have moved quickly to recommence production following the fall of the Quadaffi regime, even before the deposed dictator’s death. ENI, the biggest operator in Libya before the revolution, restarted activities in October after the interim transitional Government said its contracts remained valid.
Libya’s oil production is approaching 840,000 bpd, slightly over half of pre-war levels. Ben Yazza, who was effectively preceded by former National Oil Corporation Chief Shokri Ghanem, said that there would be “no earthquake” in oil production in the country.
PetrolWorld 01122011
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