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NOC and Wintershall agree immediately to resume production from NC 96 and NC 97
NOC is pleased to announce that Wintershall has agreed with NOC on an interim arrangement for the immediate resumption of production in concession areas NC 96 and NC 97, thereby putting an end to the damaging shutdown of operations in those areas. “NOC has reserved all its legal rights to ensure that Libya’s interests are upheld,” said NOC chairman Mustafa Sanalla.

“This shutdown was enormously costly to Libya. I hope we can now get on with the business of meeting our oil production targets without interruptions.”

“Total oil production in Libya as of today is 830,000 b/d, and we are targeting one million barrels by end of July, 2017 as a result of the resumption of production from the Wintershall and linked Abouatiffel fields, as well as from 103 A and Nafoora,” said Sanalla.

The agreement allocates to Wintershall an amount of production sufficient to cover its costs, with all remaining production being allocated to NOC. It also provides that during this interim arrangement, the parties will attempt to resolve their dispute regarding the legal framework governing the petroleum operations.

About National Oil Corporation

The National Oil Corporation (NOC) was established on 12 November 1970 , under Law No: 24/1970, replacing the general Libyan Petroleum Corporation which established under Law No. 13 of 1968 to assume the responsibility of the oil sector operations . It was later reorganized under decision No :10/1979 by the General Secretariat of the General People's Congress, to undertake the realization of the objectives of the development plan in the areas of petroleum , supporting the national economy through increasing , developing and exploiting the oil reserves and operating and investing in those reserves , to realize optimum returns. In carrying out its activities, NOC may enter into participation agreements with other companies and corporations carrying out similar activities.

About Wintershall

Wintershall Holding GmbH, based in Kassel, Germany, is a wholly-owned subsidiary of BASF in Ludwigshafen. The company has been active in the extraction of natural resources for 120 years, and in the exploration and production of crude oil and natural gas for over 85 years. Wintershall focuses on selected core regions where the company has built up a high level of regional and technological expertise. These are Europe, Russia, North Africa, South America, and increasingly the Middle East region. The company wants to expand its business further with exploration and production, selected partnerships, innovation and technological competence. Wintershall employs about 2.000 staff worldwide from 50 nations and is now Germany’s largest internationally active crude oil and natural gas producer.


Origine : Communiqué National Oil Corporation

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