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Monday, August 22, 2011

O&G Companies Monitoring Libya As Rebels Roll into Tripoli

- O&G Companies Monitoring Libya As Rebels Roll into Tripoli

Monday, August 22, 2011
Rigzone Staff
by Karen Boman

Oil and gas companies with operations in Libya are monitoring the country's political situation as rebels have taken control of most of Tripoli. A number of companies shut down operations and pulled workers from Libya earlier this year following the uprising against Moammar Qadhafi and resulting civil war.

German oil and gas operator Wintershall said in a statement, "We are monitoring the situation very closely. Our care is continually directed towards our Libyan staff, especially in Tripolis. We hope that the violent conflicts will end soon."

"For safety reasons Wintershall shut down and safely sealed off oil production operations in the desert at the end of February. No oil has been produced there since. Our international employees have been flown out of the country. The local staff who have remained in Libya are looking after the production facilities in the desert."

"At the moment it is too early to predict when, how and under what conditions the production in Libya might begin again. Starting up production could be done within several weeks under standard technical conditions. This of course depends on the state of the export infrastructure as well as a stable security situation in the country."

A spokesperson with Austria-based OMV said the company is monitoring the situation closely, but cannot confirm when its production of 33,000 BOE/d will resume.

When conditions allow, BP intends to resume plans to drill its first exploration well in Libya. The company originally planned to begin drilling in February of this year, but was forced to suspend operations due to the political situation in Libya.

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