Libya: Oil & Gas Briefing
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.
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. Although the country’s oil production has seen volatility in 2020 – between COVID-19 and an ongoing blockade against domestic oil fields and terminals – output surged to 800,000 barrels per day (bpd) last month, signaling a robust rebound in 2021 that targets a production level of 1.3 million bpd.
Next article: Africa’s Largest Potential Producer
Home to the largest recoverable reserves on the continent, Libya’s vast and underexplored basins are sparking the interest of major operators, as the North African producer seeks to boost oil output in the long-term.