TRIPOLI

Libya’s El-Sharara oilfield has been shut down, the country’s state oil firm confirmed on Saturday.

In a statement, the National Oil Corporation (NOC) said it has launched an investigation into suspected valve closure in the Hamada area in western Libya.

It, however, said production from the nearby El Feel oilfield had not been affected by the incident.

El-Sharara oilfield produces more than 300,000 barrels of crude oil per day, forming roughly one third of the oil-rich country's production.

Libya holds Africa’s largest crude reserves, but eight years of conflict and violence in the country since the 2011 ouster of ruler Muammar Gaddafi have hobbled production and exports.