Libya upstream summary Report

Country Report 01 March 2025

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Report summary

Libya has the second-largest oil and gas reserves in Africa, but production has been impacted by above-ground risks. Prior to the civil war in 2011, oil output was over 1.6 million b/d. However, production has been routinely impacted by civil unrest, strikes and blockades of export facilities. Since 2021, output has been steadier, with outages shorter in duration. National Oil Corporation (NOC), Libya's national oil company, has set an ambitious target of increasing production to 1.6 ...

Executive summary
Key facts
Location maps
Key companies
- National Oil Corporation (NOC)
- International investors
- IOCs share of reserves and production
Geology
- Introduction
- Sirte Basin
- Ghadames Basin
- Murzuk Basin
- Pelagian shelf
- Kufra Basin
Exploration
- Licensing
- Historical
- Contract extensions
  - EPSA IV Round 4 - December 2007
  - BP direct awards - 2007
- Open acreage
- Recent activity
- Drilling
  - Drilling activity
  - Historical exploration activity
  - Post-2011 civil war
  - Future activity
  - Drilling by basin
Reserves and resources
- Reserves
- Reserves by basin
  - Oil
  - Gas
- Reserve growth
  - Enhanced Oil Recovery (EOR)
- Contingent resources
Production
- Liquids
  - Civil war and post-conflict recovery
  - Forecast volumes
- Export blends
  - Ras Lanuf terminal
  - Zueitina terminal
  - As Sidrah terminal
  - Zawiyah terminal
  - Tobruk (Marsa Hariga) terminal
  - Marsa Brega terminal
  - Bouri (FPSO)
- Gas
  - Historical gas production
  - Civil war and post-conflict recovery
  - Future gas production
Infrastructure
- Oil infrastructure
- Existing liquids pipelines
- Refining
  - Marsa El Brega refinery
  - Zawiyah refinery
  - Ras Lanuf refinery
  - Tobruk (Marsa El Hariga) refinery
  - Sarir refinery
  - South refinery
- Gas infrastructure
  - Greenstream pipeline
- LNG Projects
  - Marsa el Brega LNG plant
Costs
- Capital costs
  - Capital expenditure by location
Policy and regulation
- Key legislation
  - Regulatory body
  - State participation
- Regulatory body
- State oil company
- State participation
- International boundaries
- Licensing
- Concessions
- Exploration and Production Sharing Agreements (EPSAs)
  - EPSA I
  - EPSA II
  - EPSA III
  - EPSA IV
  - Contract extensions
Fiscal terms
- Overview
- Current fiscal terms
  - Upstream
  - Mid/Downstream
  - Pipelines
  - Gas utilisation
  - Production Sharing Agreements (EPSA)
  - State equity participation
  - Carry & reimbursement
  - Bonuses, rentals and fees
  - 13 more item(s)...
- PSC cost recovery
  - Cost recovery ceiling
  - Recoverable costs
  - Abandonment costs
  - Investment uplift/credit
  - Cost carry forward
  - EPSA III and EPSA IV PSC profit sharing
  - Corporate (or Petroleum) income Tax
  - Fiscal/Contractual ring-fences
- Concessions
  - State equity participation
  - Participation rate
  - Carry & reimbursement
  - Cost depreciation
  - Bonuses, rentals and fees
  - Signature bonuses
  - Production bonuses
  - Training fees
  - 16 more item(s)...