Libya oil fields ready for production: ministerLibya oil fields ready for production: minister

Libya's de facto oil minister said in a press conference held here on Saturday Libyan oil fields are ready to resume their production.


Shukri Ghanem, head of Libya's National Oil Company, said Libya will honor international deals signed with the world's oil companies.


Last week, he said Libya's oil production had fallen dramatically due to the departure of foreigners working in oil fields as unrest and security woes hit the country.


He called on foreign companies to send back their workers to resume their production.


Libya has the largest proven oil reserves in Africa and is considered Africa's third largest oil producer after Angola and Nigeria.


Oil operation plays a fundamental role in Libyan economic growth, representing 95 percent of exports and 25 percent of the country's Gross Domestic Product (GDP).
(Source:http://news.xinhuanet.com)