The Libyan state-owned National Oil Corporation (NOC) on Sunday declared a state of force majeure in the country’s largest oilfield Sharara, a few days after it was shut down by protestors.
“The National Oil Corporation has declared a force majeure on the Sharara oilfield effective Sunday, Jan. 7, 2024, due to its closure by protesters. The closure has resulted in the suspension of crude oil supplies from the field to the Zawiya terminal,” NOC said in a statement.
NOC confirmed that negotiations are ongoing to resume production as soon as possible.
The oilfield was shut down on Tuesday by local residents to protest against lack of fuel supplies and basic services in southern Libya, threatening to shut down another major oilfield.
Sharara is located some 900 km south of the capital Tripoli. It has the capacity to produce over 300,000 barrels of crude oil daily.
Oil and gas represent a major source of Libya’s revenue. However, the sector has suffered over the past years from armed conflict and oil field and port closures. ■
