Libya will begin exporting crude oil from the eastern port of Tobruk within 10 days and could be producing 1 million barrels per day within 6 months.
The North African country badly needs revenues from its main industry to fund reconstruction after a nearly 7 month war with violent clashes continuing between interim leaders and forces loyal to deposed leader Muammar Gaddafi.
Benghazi based oil firm Agoco confirmed that it had started pumping oil from its eastern Sarir field slightly ahead of a planned start date of September 15th 2011.
Mr Nouri Berouin chairman of the National Oil Corporation said that "We should have enough oil for 1 million barrel shipment from Tobruk in 8 to 10 days. Only Sarir was currently producing but that the country could reach output of 800,000 to 1 million barrels per day within 6 months.”
Our problem is with equipment and not production. We have a management crisis team for safety and maintenance. It will cost hundreds of millions to do all the repairs not billions. NOC was conducting a full damage survey.
( Source: www.Steelguru.com )