The output of Libya’s Es Sider crude oil grade slumped 72% due to a large rupture in the Dahra to Es-Sidra pipeline that led to its closure. Es Sider production is expected to remain reduced for about ten days. Waha Oil Co, a subsidiary of state-owned National Oil Company (NOC), currently produces 77,000 bpd of Es-Sider oil, far below its capacity of 285,000 bpd. NOC chairman Mustafa Sanalla said the company is currently carrying out appropriate assessments and emergency maintenance work.
Libya holds Africa’s largest proven oil reserves but has been struggling to keep production level due to a lack of government funding to maintain its ageing energy infrastructure. Libya produced around 1.2 million bpd of crude currently, below its aims to hit 1.4 million bpd by December and 1.6 million bpd in 2022. Even if it hit the target, its production level would remain below the peak output of 1.75 million bpd in 2008.
