National Oil Corporation recently issued the following announcement.
Announcement for Lifting Force Majeure on Al Sharara Field
The National Oil Corporation (NOC) declares that it has reached an – honor agreement- under which the Petroleum Facilities Guards (PFGs) abides by ending the entire obstacles that face Al Sharara Field in a way that guarantees there will be no security breaches and in a way that enables the National Oil Corporation to lift the force majeure status and resume production in Al Sharara Oil Field.Therefore, the National Oil Corporation hereby announces lifting the Force Majeure status as of Sunday 11 October 2020 and instructions have already been given to Akakus Oil Operations (AOO), the Operator, to start production arrangements subject to the standards of general security and safety precautions and the safety of the operations. It is worth mentioning that the National Oil Corporation, under the patronage of the United Nations Mission in Libya, has discussed the issue of the security arrangements for oil fields and ports at Hurghada meetings this month which contributed positively to mitigating the obstacles and difficulties that face the stability of operations in Al Sharara Field and its affiliated sites.As NOC highly commends the efforts exerted by all local and international parties, it undertakes to hold to the non-political professional principles in any arrangements related to the responsibilities and duties of its competence stressing that the disposition of petroleum revenues is an issue under the jurisdiction of the State’s executive authority.
Original source: https://noc.ly/index.php/en/new-4/6157-announcement-for-lifting-force-majeure-on-al-sharara-field
