Italy’s Eni said Wednesday its daily Libyan output has risen above pre-war levels despite ongoing conflicts between the country’s two rival governments.
Eni, the largest producer in Libya, is now producing about 300,000 barres per day of oil.
“Our commitment in Libya is very strong…We have worked in the past months the reinforce all of our structures onshore and we also in a very good position because we are on the western side of Libya,” Eni CEO Claudio Descalzi told Bloomberg Business.
Oil and gas assets have become favorite targets in a four year long conflict between Libya’s rival governments that kicked off when former dictator Muammar Gaddafi was overthrown in 2011.
Work stoppages and terrorist attacks have only added to the country’s woes and knocked its crude exports down to about 500,000 bpd from a high of 1.6 million bpd before the conflict began.
In February Eni cut the number of expatriates it has working in offshore Libya as government clashes and terrorist attacks caused multiple field closures.
Despite field and terminal shutdowns Descalzi said his company is optimistic that the strife will eventually settle down.
“In the medium long term we are confident because we saw a lot of offers from different international entities and we’re willing to find a solution internally so they have started discussions in the last four months. That’s a really good signal,” Descalzi said.
Earlier this month a group protesters demanding jobs shut down a gas field in Libya just days after striking security workers prevented the El Feel field from coming back online.
The shutdowns are expected to worsen Libya’s power shortage as the country reels from multiple attacks on petroleum fields and export terminals.
In January Libya’s state owned oil company declared a for 11 oil fields that are now non-operational force majeure following attacks by suspected members of Islamic State.