Italy’s oil giant Eni restarts production in Libya

September 26th, 2011 - 9:02 pm ICT by IANS  

Rome, Sep 26 (IANS/AKI) Italian oil giant Eni is resuming production in Libya after more than seven months following the conflict that ousted long-time leader Muammar Gaddafi and brought the energy company’s output to a virtual standstill.

Eni is restarting production in 15 Libyan wells in Abu Attifel, located 300 km south of the eastern port city of Benghazi, the company said in a statement.

Before the conflict between rebels and forces loyal to Gaddafi, Eni was the top foreign producer of oil and gas in the North African country.

Eni is working in partnership with Libya’s state-run oil company NOC at Abu Attifel, bringing production to 31,900 barrels a day and will soon restart other wells.

Last week, French oil giant Total said it had resumed production from an offshore oil platform off Libya, making it the first major to return to work since the fall of Gaddafi.

Eni signed an agreement in August with Libya’s new rulers to allow the company to resume output in the country as soon as possible.

Due to the fighting, production from Libya had fallen to around 50,000 barrels of oil equivalent a day from 280,000 barrels, Eni said.

Prior to the conflict, Eni got 13 percent of its revenue from Libyan natural resources.

–IANS/AKI
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