The Akakus Oil Company has resumed development operations drilling at the Sharara field, following a seven-year hiatus.
The company explained that the onset of drilling a new well will begin during the month of November, adding that the production rates of the Sharara field are set to continue, noting that the stoppage in development drilling resulted in high financial loss for the company and equally high budgets to be invested to conduct maintenance operations in order to resume the ceased works.
Akakus added that the deterioration of the security situation in the past years led to the displacement of contractors and the suspension of production, which has negatively impacted surface equipment, increased the rate of corrosion and caused the malfunction of essential pumps.
