Libya resumes exploration and rises crude output

Reuters reported that Libya has resumed oil exploration activities and its crude output has climbed to 1.4 million barrels per day while gas production is now at 2.3 billion cubic feet per day.

The National Oil Corporation said that Seismic surveys at oil concessions belonging to the Arabian Gulf Oil company have resumed, and the Arab Company for Geophysical Survey has started on February 25th 2012 carrying out seismic survey operations in division 3 at NC4 concession in the Ghadames basin.

A second division will start implementing an exploration program at concessions 44-47-51-80 in Sirte basin by the end of March. Oil operations activity had resumed at all fields and oil ports and the situation in the country is 'secure and stable.

The best proof of that is the return of output rates which are now at around 1.4 million barrels of oil per day while gas production rate reached 2.3 billion cubic feet per day.

(Source: Steel Guru, Reuters)

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