Oil and gas producer Wintershall AG--a fully owned unit of German chemicals giant BASF SE (BAS.XE)--said Monday it is still too early to tell when it will resume production in war-torn Libya.
Oil and gas producer Wintershall AG--a fully owned unit of German
chemicals giant BASF SE (BAS.XE)--said Monday it is still too early to tell
when it will resume production in war-torn
Libya
.
"At the moment it is too early to predict when, how and under what
conditions the production in
Libya
might
begin again," Wintershall said in an emailed statement.
"Starting up production could be done within several weeks under standard
technical conditions," the company said. It added, however, that a
resumption of production "depends on the state of the export
infrastructure as well as a stable security situation in the country".
An uprising that began in February in eastern
Libya
reached the center of the capital
Tripoli
Sunday after months of fighting and air strikes by the North Atlantic Treaty
Organization, fuelling expectations Col Moammar Gadhafi's government could be
on the brink of collapse.
"We are monitoring the situation very closely," Wintershall said in
its statement.
In February Wintershall--
Germany
's
largest oil and gas producer by output--stopped oil production in
Libya
following the escalation of civil unrest in the country and evacuated all
foreign staff.
The company usually produces around 100,000 barrels of oil a day in
Libya
.
Wintershall still has around 350 Libyan staff in the country that is looking
after the company's production facilities, located in the east of
Libya
.
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