Production from Libya's largest field - the 300,000 b/d El Sharara - can restart after an agreement was reached with the Petroleum Facilities Guard (PFG), according to two Libyan sources.

The El Sharara, El Feel, Hamada and Wafa fields were shut down on 20 December by a faction of the PFG, which typically protects the assets of state-owned NOC. Libyan production fell below 800,000 b/d as a result of these outages.

Flows of the Mellitah oil blend - a result of commingling El Feel output and Wafa condensate - are also likely to resume, one of the sources said. Argus assessed average Libyan crude production near 1.12mn b/d in November, prior to the shutdowns.

The exact timeframe for the restart of El Sharara is uncertain, amid ongoing port shutdowns. Poor weather conditions have paralysed loadings at all Libyan ports today, with unfavourable loading conditions expected to persist over the week.

NOC has yet to lift force majeure (FM) restrictions on crude loadings from the Zawia and Mellitah terminals, according to shipping and trade sources.

By Ruxandra Iordache

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Argus Media Limited published this content on 10 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2022 16:27:04 UTC.