OXY: Libya Oilfields Are Producing, Amount Unknown

HOUSTON (Dow Jones Newswires), Feb. 28, 2011

U.S. oil and gas company Occidental Petroleum (OXY) said Monday it believes the oil-fields the company operates in Libya are "in good condition" and continue to produce crude amid the rising political unrest.

Richard Kline, a spokesman for the Los Angeles-based company, said in an email that Occidental's Libya production continues with operations managed by the company's Libyan national employees, although Occidental does not "currently know the exact amount" of oil being produced.

Occidental's share of production from its operations in Libya was approximately 13,000 barrels of oil equivalent per day in 2010, Kline said.

The company has withdrawn all expatriate employees and contractors from Libya and continues to closely monitor developments.

Copyright (c) 2011 Dow Jones & Company, Inc.


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