National Oil Corporation Declares Force Majeure at El-Feel Oil Field
Tripoli, Libya, September 2, 2024 — The National Oil Corporation (NOC) of Libya has declared a Force Majeure at the El-Feel crude oil field due to unforeseen circumstances affecting Mellitah crude oil production. According to a statement released today by NOC, these circumstances have prevented the company from conducting normal crude oil loading operations, and they foresee that this situation will impact and halt oil production activities at the El-Feel field.
The NOC's decision comes in line with the provisions of Force Majeure under the Libyan Civil Code, indicating that the circumstances leading to this declaration are beyond their control and could not have been anticipated or prevented. This move reflects the significant challenges facing Libya’s oil sector, a vital part of the country's economy.
However, the NOC has clarified that the Force Majeure will not affect loading operations of other hydrocarbon products. The company assured that it would provide updates on the situation and restore normal operations as soon as the conditions that led to the Force Majeure are resolved.
The announcement emphasizes NOC's commitment to transparency and effective communication amidst the ongoing challenges in Libya's oil production landscape. The company has also notified relevant stakeholders, including members of the board of directors and managers in the legal and marketing departments, of the current situation and the measures being taken to address it.
The Force Majeure declaration at the El-Feel oil field is a significant development, given the field's contribution to Libya's overall oil output. Industry observers are now closely monitoring the situation, hoping for a swift resolution that will enable a return to normal operations.
