Libya's Main Oil Field Production Halted by Armed Group
The National Oil Corporation (NOC) in Libya has reported that an armed group shut down the valve on a crude oil pipeline linking the Sharara field to Zawiya port, causing a significant reduction in production at the country's main oil field.
The NOC stated that Valve No. 7 was closed, halting the flow of crude from the Sharara field, operated by Akakus Oil Operations, to Zawiya Port in western Libya. This has resulted in pressure building up in the pipeline, leading to a 'significant reduction' in production at Sharara.
The Sharara field is located in the Murzuq Desert and is Libya's largest oil field, with a production capacity of around 340,000 barrels per day.
The NOC has called on the Petroleum Facilities Guard to secure the area and reopen the pipeline. If the closure continues, the corporation may be compelled to declare force majeure, a contractual provision that suspends liability when extraordinary circumstances prevent parties from meeting their obligations.