Gazprom EP International takes over oil production in Libya under the management of Wintershall Dea JV – Business & Economy

MOSCOW, May 25 / TASS /. Gazprom EP International has resumed crude oil production in Libya under a joint venture agreement with Wintershall Dea, chief executive Sergey Tumanov said in an interview with Gazprom’s internal magazine, adding that the project’s production is expected to increase from the current 43,000 barrels per day to 62,000 barrels per day in 2021.

“In the fall of 2020, after nine months of suspension due to the declared force majeure on Libyan territory, oil production under our Libyan asset resumed successfully. Ports, export terminals and production facilities began to gradually resume operations in At the same time, we completed a major milestone of works in Libya as part of our joint venture with Wintershall Dea, Wintershall Aktiengesellschaft (WIAG), by transferring the functions of field development operator in the Sirte basin to Blocks 91 and 107 to a newly created joint venture with the company Libyan National Oil Corporation (NOC), Sarir Oil Operations BV (SOO) “, He explained.

There are plans to undertake a number of measures on increasing efficiency and restoring production infrastructure in order to implement plans for the growth of oil production in Libya, Tumanov added.

Gazprom EP International owns 49% of the joint venture with Wintershall Dea, Wintershall Aktiengesellschaft (WIAG). The JV has been the operator of blocks 91 and 107 in Libyan territory since 1966. Activities within these blocks resulted in the company’s discovery of nine oil fields, which were subsequently commissioned. The As Sarah field located in contract block 91 is the largest of these.

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