Libyans: Gadhafi Death to Speed Oil Supply and Investment

Nuri Berruien, chairman of Libya’s National Oil Corp., said the death of deposed Libyan dictator Moammar Gadhafi will help speed up oil production and investment.

Berruien spoke today with Bloomberg by phone from Libya:

On infrastructure:

“Sirte is in the middle and the air travel is a bit restricted,” he said. “Now that Sirte is liberated, people can move quickly. People can go to the fields that are in the west.”

“This will help in getting a lot of fields back into production as soon as possible,” he said.

On overseas companies returning to Libya:

Companies including Halliburton Co., Schlumberger Ltd. and Baker Hughes Inc. are considering a return to Libya, he said. “They are making trips to check on security,” he said. “Very soon they will be in full force.”

“Technically, you could say Libya is in a state of war,” he said. “Today, you could say it’s finished. Now we will pay attention to clean up. We are going to normality. Things will be safer.”

“More workers will go to certain fields, get back with the service companies,” he said. “Things are happening better than everybody’s expectations.”