By John Lee.
The CEO of Germany's Wintershall Dea has said that the current instability in Libya presents a significant risk to the company's on-shore production.
On the sidelines of the 2019 St. Petersburg International Economic Forum (SPIEF-2019), Mario Mehren (pictured) told TASS:
"We have offshore production that has the advantage of being offshore so it is not exposed to certain risks and it continues manufacturing, but the main production in Libya for both us and the country is on-shore [production] and currently we are turning out slightly above 50,000 barrels [per day] there, but it is not easy. It is a day-to-day struggle and we do not know how long we can keep that production up under the given the circumstances."
The company operates the NC-96 (As-Sarah) and NC-97 concessions on-shore in Libya, and has a share in the Al Jurf crude oil field off the Libyan coast.
Last month, BASF and LetterOne successfully completed the merger of Wintershall and DEA; BASF will hold 67 percent and LetterOne 33 percent of Wintershall Dea’s ordinary shares.