Bloomberg News

Qaddafi Death to Speed Up Return of Oil Supply, Berruien Says

October 20, 2011

Oct. 20 (Bloomberg) -- Nuri Berruien, chairman of Libya’s National Oil Corp., comments on the death of former leader Muammar Qaddafi and what it means for oil and gas production in the North African country.

Qaddafi died in his hometown of Sirte today two months after a NATO-backed uprising forced him from power. Berruien spoke today by phone from Libya today.

On infrastructure:

“Sirte is in the middle and the air travel is a bit restricted,” he said. “Now that Sirte is liberated, people can move quickly. People can go to the fields that are in the west.”

“This will help in getting a lot of fields back into production as soon as possible,” he said.

On overseas companies returning to Libya:

Companies including Halliburton Co., Schlumberger Ltd. and Baker Hughes Inc. are considering a return to Libya, he said. “They are making trips to check on security,” he said. “Very soon they will be in full force.”

“Technically, you could say Libya is in a state of war,” he said. “Today, you could say it’s finished. Now we will pay attention to clean up. We are going to normality. Things will be safer.”

“More workers will go to certain fields, get back with the service companies,” he said. “Things are happening better than everybody’s expectations.”

-Editors: Rachel Graham, John Buckley

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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