NOC says decline expected in Libya's oil exports post pipeline explosion

Libya's National Oil Corporation (NOC) confirmed the explosion at the pipeline near Maradah operated by al-Waha Oil Company, adding that there would be an expected substantial decline in the country's oil exports.

"The National Oil Corporation confirms an explosion on the Zaggut to Es-Sider oil pipeline. The line connects the fields to Es- Sidrer oil terminal and is operated by the Waha Oil Company. Early investigations revealed that the explosion occurred on the line 15 km north of Marada town and 130 km south of Sidra," The Libya Times quoted a statement by NOC.

NOC further said that Waha has immediately diverted production to the Samah line. "However, NOC expects production losses of 70,000 to 100,000 barrels/day. ?NOC continues to investigate the causes of the explosion and is closely monitoring developments."

Officials from the Libyan National Army (LNA) had earlier announced that the attack against the Maradah pipeline was an act of terrorism.

According to reports, the explosion took place some 30 kilometres northeast of the town of Maradah. The targeted pipeline is also linking between oilfields belonging to al-Waha Oil Company and the oil port of Sidrah.