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Gazprom expects to boost production in Libya

Gazprom EP International has restarted production in Libya, where it works with with the Germany-based Wintershall Dea

Gazprom expects to boost production in Libya

Moscow, May 26 - Netegaz.RU. Russian Gazprom has resumed oil production in Libya, it is planned to undertake a number of measures on efficiency increase and recovery of production infrastructure in order to implement plans on oil production growth, according to TASS.

Since 2011, due to the turmoil in Libya, crude production and shipments have been intermittent, depending on the situation in the country.
The managing director of Gazprom EP International, Sergey Tumanov, said:
  • We aim to increase our production from 43 000 barrels per day to 62 000 barrels in 2021
  • In the fall of 2020, after 9 months of suspension due to the force majeure declared on Libyan territory, oil production within the framework of our Libyan asset was successfully resumed
  • Ports, export terminals, and production facilities started to gradually resume their operations in the country
  • At the same time, we completed an important stage of the works in Libya under our JV with Wintershall Dea, Wintershall Aktiengesellschaft, as we transferred the functions of the operator of development of fields in the Sirte Basin in Blocks 91 and 107 to a newly established JV with the Libyan NOC, Sarir Oil Operations B.V.
Gazprom EP International is also planning work in Algeria at the El Assel area.
The company has said it is considering a decision on 2 gas condensate fields in the North African state this year.

Should it approve the projects, the Russian company expects commissioning to come in 2025.

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