Libya in post-war oil production boom

2011-10-31 20:18
Tripoli - Libya's oil output is almost at a third of its pre-war levels, the country's acting oil minister said on Monday, adding that the resumption of production was moving quicker than expected.

Output, which virtually ground to a halt during the 8-month civil war that toppled Muammar Gaddafi, has reached 531 000 barrels per day, said Ali Tarhouni, the interim government's oil and finance minister.

The OPEC member, which sits atop Africa's largest proven reserves, produced about 1.6 million barrels per day before the war.

Officials had expected output to reach about 500 000 barrels per day by the end of the year and to achieve pre-war levels by the end of 2012.

Tarhouni said the current output levels "means we are ahead of schedule".

"So far we succeeded in reactivating some of the oil fields, only with local employees," Tarhouni told a town hall meeting in the Libyan capital of Tripoli. He said former rebels are protecting oil fields from any attempts at sabotage.

- AP
Read more on:    muammar gaddafi  |  libya  |  uprisings  |  libya protests
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