The Sirte Oil and Gas Production and Distribution Company announced the Al-Raqouba oil field has reached its highest production rate since 2011.
In a statement, the company revealed that the Al-Raqouba oil field produced 13,300 barrels of crude oil per day, a production level not seen since the year 2011. This milestone marks a notable success in the country’s oil sector, amidst various challenges.
The company’s announcement coincided with an inspection visit to the Al-Raqouba field by Mustafa Hamad, Chairman of the Board of Directors. Accompanying him were Ahmed Al-Mahashhash, Board Member for Operations, Mohamed Hussein, Director of the Chairman’s Office, Abdulrahman Al-Azzami, Board Affairs Observer, and Abdulsalam Dweik, Supervisor of Industrial Security.
During the visit, the chairman and his entourage met with Ali Al-Qawi, the field supervisor, along with other employees. They reviewed the ongoing operations at the gas plant, and the sorting facility.
The tour included various key sites such as the Al-Raqouba airport runway, employee residences, the dining hall, and associated facilities. Hamad directed attention to the need for maintenance, emphasizing the improvement of services for the employees.
This development underscores the resilience and progress of Libya’s oil industry, marking a significant boost in production capabilities at Al-Raqouba, a key asset in the nation’s oil infrastructure.
In a recent interview with S&P Global Commodity Insights, Libya’s Oil Minister, Mohamed Aoun commented on the unlikely prospect of an OPEC-led oil embargo, in response to the ongoing Israel-Gaza war. He highlighted that the Organization, with its diverse membership including non-Arab nations, is unlikely to unify behind such an action, reminiscent of the 1973 Arab oil embargo that triggered a global energy crisis.
Aoun emphasized that the 13-member group includes countries that “might not share the same political stance as Arab oil producers, who are critical of Israel’s intensified operations in Gaza. This diversity in political views within OPEC makes a unanimous decision for an embargo improbable.”