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Talks Ongoing to Restart Closed Libyan Oilfields

Talks Ongoing to Restart Closed Libyan OilfieldsTalks Ongoing to Restart Closed Libyan Oilfields

Negotiations to reopen Libyan oilfields are ongoing and the level of the country's production remains stable, a spokesman for the state National Oil Corporation said on Tuesday.

Libyan authorities said they were trying during the Muslim holy month of Ramadan, which began two weeks ago, to reopen pipelines for the El Feel and El Sharara oilfields and the port of Zueitina, blocked for weeks by protests and disputes.

"Efforts being carried out by elders and mayors of local municipalities are still underway in order to reopen the closed oilfields. We expect good results soon," said NOC spokesman Mohamed Harari, Reuters reported.

The OPEC country is caught in a dispute between two rival governments, one internationally recognized in the east and a self-declared one that controls Tripoli, since a group called Libyan Dawn took over the capital last year.

Before the 2011 civil war that ousted Muammar Gaddafi, Libya produced 1.6 million barrels per day. It is now less than half that figure. Officials rarely release national production figures, but one recent estimate put it at 500,000 bpd.

Financialtribune.com