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Libya's declaration of 'force majeure' on 11 oilfields – some of which were the target of recent militant attacks – was aimed at avoiding possible breaches of contract with foreign partners, Tripoli-based Oil Minister Mashallah Zwai said.
"The decision was made to avoid contractual penalties that could be imposed by foreign oil-production partners or importers," Zwai, who is affiliated with the Islamist-led salivation government, told The Anadolu Agency.
"The oilfields in question have not been operating since December," he said, adding that the state of force majeure would be lifted once the state regained control of the 11 oilfields.
On Wednesday night, Libya's National Oil Corporation (NOC) declared force majeure on 11 oilfields following militant attacks on four of them.
The move came after the Bahi and Mabrouk oilfields were attacked on Tuesday by unidentified militants.
A declaration of force majeure allows parties to waive their contractual liabilities and obligations in the face of "extraordinary events" outside their control.
Libya is suffering a significant financial crisis due to falling international oil prices coupled with the country's diminished crude output after production was suspended at several oilfields due to attacks by the Islamist "Dawn of Libya" militia.
Late last year, the NOC halted operations at the country's two largest oil ports – Sidra and Ras Lanuf – following clashes between forces loyal to Libya's two rival governments.
In the four years since the ouster and death of Libyan strongman Muammar Qaddafi, rival militias have often locked horns, bringing violence to Libya's main cities, especially capital Tripoli and the eastern city of Benghazi.
The sharp political divisions have yielded two rival seats of government in the country, each of which has its own institutions and military capacity.
www.aa.com.tr/en - Trablus
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