The Libyan National Oil Corporation (NOC) has announced it is lifting force majeure on Sharara oilfield, the country’s largest oil producer, after reaching an (a honor agreement) with pro-Haftar Petroleum Facilities Guard.
In a statement on Sunday, the NOC said it had instructed the operator of the southwestern oilfield, Acacus, to start production arrangements, taking into consideration public safety and process safety standards.
NOC indicated that the Petroleum Facilities Guard had pledged to ensure that there would be no security breaches and that all operations and workers would be in a safe environment.
NOC said that the arrangements of reopening Sharara oilfield were talked about in Hurghada talks between Libyan parties, leading to the lifting of the oilfield, which produces 330.000 bpd.
Reopening Sharara oilfield comes more than three weeks after Khalifa Haftar said he would lift the blockade on fields and ports following a deal with the Tripoli-based, UN-backed Government of National Accord (GNA) – signed by Presidential Council member Ahmed Maiteeq.
At the time, the NOC lifted force majeure on the oil terminals and restarted production from certain fields it considered “safe” shortly after the agreement was reached, but some major facilities, such as Sharara oilfield, remained un-operational.