Page 8 - AfrOil Week 04 2022

AfrOil PERFORMANCE AfrOil

NOC aims to push oil output up

to more than 1.2mn bpd this year

LIBYA Libya’s state-owned National Oil Corp. drafted before the upcoming presidential and
(NOC) plans to increase oil production in 2022 parliamentary elections, in order to be able to
to exceed 1.2mn barrels per day (bpd) on aver- properly govern the electoral polls.
age, CEO Mustafa Sanalla said. Addressing a symposium in Tripoli on Jan-
The average daily oil production was 1.045 uary 23, Dbeibah said the Libyan people need
bpd last year. During this January, however, what he called free elections, blaming various
yields dropped to 946,000 bpd, owing to dam- political parties for extending the political crisis
aged pipelines. via tailor-made laws favouring certain candi-
NOC’s 2022 plans include major mainte- dates over others.
nance works on a number of oilfields damaged Stephanie Williams, the UN Secretary Gen-
by armed conflict and terrorist attacks. eral’s Advisor on Libya, has said that the north
Meanwhile, Libya’s Oil Ministry said earlier African country could plunge into a political
that the country might see output hit 1.6mn vacuum if elections are postponed until after
bpd in 2022, depending on whether the NOC June.
receives funding from the as-yet unformed new Libya’s institutions face a crisis of legitimacy
national government. that can only be resolved at the ballot box, she
Oil and gas represent one major source of said, through the democratic election of a pres-
Libya’s revenues. The North African country’s ident and a government, which in turn would
crude production has been subject to severe secure a more stable future.
fluctuations in recent years. Dbeibah, House speaker Aguila Saleh and
The long-running rivalry between the Tripo- LNA leader Khalifa Haftar have all put their
li-based Government of National Unity (GNU) names forward for the presidential vote. None
and the Benghazi-based Libyan National Army of the three has any reasonable hope of winning
(LNA) for control of the country has affected key a majority at the ballot box. ™
oil ports and fields that have led to blockades,
strikes and sabotage.
The country has been in a state of uncertainty
over the fate of the political process in the light
of failure to hold presidential and parliamentary
elections on December 24, 2021, as planned.
Libya’s electoral board postponed the elec-
tions, after a parliamentary committee tasked
with overseeing the process argued it would
be impossible to hold the vote as originally
scheduled, after months of tension, including
over divisive candidates and a disputed legal
framework.
Libya’s interim Prime Minister Abdul Hamid
Dbeibah has said a new constitution should be Oilfield infrastructure in Libya’s Sirte basin (Image: Wintershall Dea)

Tullow sees combined Jubilee/TEN oil

output remaining nearly steady in 2022

GHANA TULLOW Oil (UK/Ireland) has said oil in 2022, compared to 107,700 bpd on average
that the Jubilee oilfield and Twene- in 2021.
boa-Enyenra-Ntomme (TEN) block, both In its latest trading statement, the company
located offshore Ghana, are on track to yield a noted that Jubilee was expected to produce
total of 102,000-110,000 barrels per day of crude around 80,000-84,000 bpd of crude this year.

P8 www. NEWSBASE .com Week 04 26•January•2022