Schlumberger announced the suspension of its service operations in the Libyan oil fields, starting from July 1 until the financial dues, which exceed 242 million dollars, are settled.

In a letter addressed to the Chairman of the National Oil Corporation, Farhat Bengdara, on Sunday, Schlumberger said that it was going through difficult financial difficulties due to the total debts owed to its companies in Libya, which are: Schlumberger Global, Daul Schlumberger, and Anadryl International.

It explained that this problem negatively affected maintaining business continuity, the financial obligations owed to local and non-local employees and suppliers, and also caused an inability to maintain specialized tools and equipment in field operations.

The company confirmed that the value of the debts currently owed to its companies in Libya exceeded $242 million: “unprecedented levels.” Its dues need to be paid by 13 oil companies, in addition to the Libyan Oil Institute.