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Libya urges oil, gas companies to resume operations in country

Libya urges oil, gas companies to resume operations in country
Government lifts force majeure on oil and gas exploration

By Gulsen Topcu

TRIPOLI, Libya (AA) - Libya’s Government of National Unity announced Monday that it has lifted a force majeure on oil and gas exploration.

In a statement, the government urged international oil companies that have contracts with Libya’s National Oil Corporation to resume operations in the country.

The statement expressed the government’s readiness to provide the necessary support in this regard and to create a safe working environment.

The decision to lift the force majeure was taken after an analysis of the security situation in Libya.

It added that the country will continue the flow of oil, which is the country’s main natural resource, to global markets.

National Oil Corporation declared a force majeure for oil and gas exploration activities on Nov. 24 due to the security situation in the country.

Libya was exempted from a decision by the Organization of the Petroleum Exporting Countries plus non-OPEC producer countries led by Russia, or OPEC+, to reduce daily oil production by 2 million barrels as of November.

source: News Feed
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