Reply #97: Much of Libyan production was leased out in 2004-2006

[bhikkhu]

...that's when sanctions were lifted and the country was opened up for exploration and production. Many of the world's biggest oil companies got involved, and work there under contracts which specify how much goes to the government and how much goes to the state. The companies do their own maintenance, and make nothing if the fields sit idle.

One of the main promises the NTC made from the beginning was that all existing contracts would be honored, so that the oil producers were reassured, and prepared to repair whatever they needed to as soon as hostilities were done, and resume production.

The internet is a handy thing - two minutes with google and you don't have to guess or speculate!