Home / Economy / NOC: $32 Million Losses A Day Due To Closing Al-Sharara Oilfield

NOC: $32 Million Losses A Day Due To Closing Al-Sharara Oilfield

The National Oil Corporation (NOC), on Sunday, said that the continuation of the shut down of Al-Sharara field costs the economy $32.5 million a day.

On its official site, the company stated on Saturday that the halt of the field will cause daily losses in production, estimatedly at 315 thousand barrels in the field of spark oil and 73 thousand barrels in Al-Feel field, since its dependence lies on electricity supplies from Al-Sharara oilfield, in addition to harming Al-Zawia refinery supplies.

The Cooperation condemned the work of the guards of Al-Sharara field of “facilitating the organization of a protest inside the field,” and threatening the workers to stop the production altogether.

The Cooperation said that any forced closure would cause long-term logistical problems that could delay the reopening of the field and the suspension of a number of oil projects and sustainable development projects in the region.

The oil field was closed on Saturday by  “Fazan’s Anger Movement”, denouncing what they called the government’s failure to respond to their demands.

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