Saturday, November 23, 2024

Wintershall: Infrastructure Woes Prevent Libyan Output Restart

Posted by August 27, 2014

German energy group Wintershall, a unit of chemicals firm BASF is ready to restart production at its onshore Libyan operations but lacks the export infrastructure due to domestic strife, the firm's exploration and production chief said on Wednesday.

The firm needs to ensure that there's proper pipeline and harbour infrastructure in place and is awaiting the signal of the state-owned National Oil Corp that everything is in place, Martin Bachmann told reporters on the sidelines of an oil conference in Norway.

Wintershall was the second-largest foreign oil firm in Libya before leader Muammar Gaddafi was removed from power in 2011. Before the war it produced 100,000 barrels per day.

 

Reporting by Balazs Koranyi

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