Timeline: 60 Years of E&P in Libya
As activity in Libya’s hydrocarbon sector resumes, read more on how Africa’s largest potential producer is harnessing its singular frontier potential to attract major operators and grow power generation, in a series of articles from the Africa Energy Series Special Report: Libya 2020.
Since first oil was discovered in the Sirte Basin over 60 years ago, the development of Libya’s oil and gas sector has been impeded by ongoing political conflict and nationalization of hydrocarbon assets, which the National Oil Corporation is seeking to change through growing private sector involvement. As the country mobilizes foreign direct investment going forward, the timeline below explores the country’s long-standing hydrocarbon history, from early major discoveries up to the recent blockade against production implemented earlier this year.
Next article: Libya: Oil & Gas Briefing
Oil reserves in Libya remain the largest in Africa and among the top ten largest globally, while the country’s natural gas reserves reach 1.5 trillion cubic meters, located in both on and offshore fields, and exported by LNG and pipeline to Europe. Read more