(Bloomberg) -- Libyan oil production is set to recover from a five-month low as the North African supplier’s biggest field restarts following a brief halt.
A valve in the pipeline that carries crude from the Sharara field to the Zawiya refinery has been reopened and tested, the state-run National Oil Corp. said Monday in a statement. The stoppage occurred Friday night, and authorities later announced force majeure at the site.
Sharara, in Libya’s southwest, is now producing 150,000 barrels a day, according to two people familiar with the situation who asked not to be identified because the information isn’t yet public.
The field’s output was previously 290,000 barrels a day and its shuttering had reduced overall daily production in the country with Africa’s largest proven oil reserves to about 1 million barrels, the OPEC member’s lowest since February.
An oil tanker, Monterey, is waiting at Zawiya port to load 700,000 barrels once force majeure is lifted, said a person with direct knowledge of the matter who asked not be unidentified because he isn’t authorized to speak to the media.
(Updates with field’s current production in third paragraph.)
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