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Libya Overview

Libya

in figures

Oil Reserves48.4 billion barrels

Gas Reserves1.4 tcm

Libya: North Africa's Oil Heavyweight

Libya targets 50% rise in oil output, plans bid round
NEWS
Libya - February 28, 2024

Libya is targeting an increase in oil production of 50% to 2 million bopd within five years and is planning a bid round.

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Libya calls force majeure at its Sharara oilfield project
NEWS
Libya - January 08, 2024

Libya’s National Oil Corporation has declared force majeure at its Sharara oilfield project due to protests, Reuters reported…

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A Saudi oil and gas technology leader TEY_post_Completion-Energy-–-Abdulmuin-ALYOUSEF
Interview
Saudi Arabia - December 15, 2023

Abdulmuin Alyousef, CEO of Completion Energy, talks to The Energy Year about the company’s strategy to export technologies…

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TEY_post_Atif-Arikat
Interview
UAE - December 12, 2023

Atif Arikat, managing director of Al Ghaith Energy, talks to The Energy Year about how energy market dynamics are evolving in the UAE, the company’s strategy for…

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A big opportunity in manufacturing TEY_post_Bassam-BAMAGOUS
Interview
Saudi Arabia - October 26, 2023

Bassam Bamagous, chairman of the board of Advanced Precision Industrial Services (APS), talks to The Energy Year about the company’s transition from a machining shop…

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Saipem awarded EPCIC works worth $1 bln in Libya
NEWS
Libya - August 10, 2023

Saipem has signed a EPCIC contract with Eni worth around USD 1 billion to revamp platforms and facilities on the offshore Bouri gasfield in Libya, the Italian…

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Eni lifts force majeure on exploration assets in Libya
NEWS
Libya - August 04, 2023

Eni has revoked force majeure status on onshore and offshore exploration blocks in Libya after nine years, the Italian energy giant announced on Thursday.

The…

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Swiss-French gas line to fuel N. Europe
NEWS
France - October 14, 2015

Energy giant Engie is planning a pipeline link between France and Switzerland to allow gas from Azerbaijan, Algeria and Libya to flow to northern Europe via…

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Libya producing 432,000 bopd
NEWS
Libya - June 17, 2015

Libya is producing around 432,000 barrels of oil per day (bopd) of which 300,000 bopd are exported to international markets, according to Mustafa Sanallah, chairman of…

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OPEC to maintain production policy
NEWS
Saudi Arabia - June 05, 2015

Officials attending OPEC’s Vienna meeting on Friday have amicably agreed to lengthen its oil production policy of unconstrained output for an additional six months.…

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Force majeure halt on Libyan oilfields
NEWS
Libya - March 05, 2015

Libya will halt production at 11 oilfields, the National Oil Corporation announced Wednesday citing force majeure. Militants claiming affiliation with Islamic State…

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Oil flow restarts at giant Libyan field
NEWS
Libya - February 23, 2015

Libya’s largest oilfield resumed production on Sunday following a week-long disruption caused by an attack on its pipeline.

Production at the Sarir oilfield…

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Concerns over IS presence in Libya
NEWS
Libya - February 17, 2015

Despite oil prices rising to $62 per barrel on Monday, concerns still loom in Libya over the ongoing violence involving Islamic State (IS) militants.

IS executed 21…

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