Libya’s NOC declares force majeure on operations at biggest oilfield

FILE PHOTO: A general view of the El Sharara oilfield, Libya December 3, 2014. REUTERS/Ismail Zitouny/File Photo

CAIRO (Reuters) – Libya’s National Oil Company (NOC) has declared force majeure on operations at El Sharara oilfield, it said late on Monday, a week after the company declared force majeure on the field’s exports.

NOC said in a statement that oil production from Libya’s biggest oilfield will only restart after “alternative security arrangements are put in place”.

“Clearly we cannot return to the security situation we were in before the field was shut”, the statement reported NOC’s Chairman Mustafa Sanalla.

The NOC last week declared force majeure on exports from the 315,000-barrels-per-day oilfield located in the south of the North African country after the field was earlier seized by a local militia group.

Reporting by Mohamed El-Sherif, editing by G Crosse

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