TRIPOLI
Libya’s state-run National Oil Corporation (NOC) on Sunday lifted the state of force majeure at the Sharara oilfield in southern Libya.
The state-run company declared force majeure at the oilfield on Jan. 3 amid protests by locals demanding the establishment of an oil refinery in the area and employment in oil companies.
Force majeure is a legal measure that exempts contractual parties from any obligations arising due to an event beyond their control.
“The state of force majeure on the Sharara oilfield was lifted and production resumed,” the NOC said in a brief statement.
Deputy Prime Minister of the Tripoli-based government Ramadan Abu Janah also confirmed the reopening of the Sharara oilfield after the demands of the protesters were met.
“Most of the protesters’ demands were implemented by the government,” Abu Janah told the local Alahrar TV station, without providing any details.
Libyan protesters said in a statement early Sunday that they had suspended their sit-in at the oilfield after reaching an agreement with the NOC.
The Sharara oilfield produces more than 300,000 barrels of crude oil per day, forming roughly one-third of the oil-rich country’s production.
Libya holds Africa’s largest crude reserves, but years of conflict and violence in the country since the 2011 ouster of ruler Muammar Gaddafi has hobbled production and exports.
Source: AA
