Libya's Waha Oilfield Resumes Flows to Es-Sider Port

A general view of an oilfield in Libya, December 3, 2014. REUTERS/Ismail Zitouny/
A general view of an oilfield in Libya, December 3, 2014. REUTERS/Ismail Zitouny/
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Libya's Waha Oilfield Resumes Flows to Es-Sider Port

A general view of an oilfield in Libya, December 3, 2014. REUTERS/Ismail Zitouny/
A general view of an oilfield in Libya, December 3, 2014. REUTERS/Ismail Zitouny/

Maintenance on the Zaggut-Sidra pipeline linking Libya's Waha oilfield to the port of Es-Sider has been completed and flows have resumed, Waha Oil Company said on Friday, Reuters reported.

Oil production from the field is expected to return to normal levels in the coming hours, the company said in a statement.

Production was suspended for maintenance early this week after a fire broke out at the pipeline.

Pumping operations have now been restored "after completing all maintenance work, replacing pipes, and conducting the necessary tests to ensure the safety of pumping operations through the pipeline from the fields to Es Sider port," Waha Oil said.

An engineer from Es Sider port told Reuters that one tanker is currently onloading in the port and another is waiting to enter the port.

Waha, a subsidiary of Libya's National Oil Corp (NOC), operates as a joint venture with TotalEnergies and ConocoPhillips.

The company runs five main fields: Waha - which produces more than 100,000 bpd - Gallo, Al-Fargh, Al-Samah and Al-Dhahra.

The company's total production capacity is about 300,000 bpd, which is exported through Es Sider terminal.



Riyadh to Host the 24 Fintech Conference in September

The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center
The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center
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Riyadh to Host the 24 Fintech Conference in September

The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center
The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center

Riyadh will host next month the 24 Fintech Conference, the first edition of the international conference specialized in the financial technology sector.

The conference will take place from September 3 to 5 at the Riyadh Front Exhibition & Conference Center, hosted by the Financial Sector Development Program, the Saudi Central Bank (SAMA), the Capital Market Authority, and the Insurance Authority.

The conference is organized by Fintech Saudi and Tahaluf, a joint project between the Saudi Federation for Cybersecurity, Programming and Drones, Informa PLC, and the Events Investment Fund.

The 24 Fintech Conference is set to focus on supporting the thriving financial technology community and review a number of specialized topics to develop the global banking and financial services sector, which includes AI, machine learning in financial operations, integrated finance, the development of open banking services, and green finance, to inspire regulators, policymakers, investors, technology experts, entrepreneurs and academics to advance cooperation in the financial technology sector.

The 24 Fintech Conference aims to make a mark in the financial technology sector. It designates a space to support startups and investors under the "FinTech Innovation Center," which includes the best 80 modern and innovative startups and more than 200 investors.

The conference integrates with Saudi Arabia's orientations to enhance the prosperity of the entrepreneurship system and support startups and its efforts to become one of the booming financial technology centers in the Middle East and North Africa region, in line with the goals of Saudi Vision 2030 in developing the sector.