Libya
Libya’s oil and gas activities include Exploration, Production, Gas, Oil, Refinery, Onshore and Offshore in the following region Misurata.
Resource: http://www.eia.doe.gov/cabs/Libya/Oil.html
Libya, a member of the Organization of Petroleum Exporting Countries (OPEC), holds the largest proven oil reserves in Africa, followed by Nigeria and Algeria (see graph below). According to Oil and Gas Journal (OGJ), Libya had total proven oil reserves of 43.7 billion barrels as of January 2009, up from 41.5 billion barrels in 2008. About 80 percent of Libya’s proven oil reserves are located in the Sirte basin, which is responsible for 90 percent of the country’s oil output.
Libya, a member of the Organization of Petroleum Exporting Countries (OPEC), holds the largest proven oil reserves in Africa, followed by Nigeria and Algeria (see graph below). According to Oil and Gas Journal (OGJ), Libya had total proven oil reserves of 43.7 billion barrels as of January 2009, up from 41.5 billion barrels in 2008. About 80 percent of Libya’s proven oil reserves are located in the Sirte basin, which is responsible for 90 percent of the country’s oil output.
Libya hopes to increase oil reserve estimates with incentives for additional exploration in both established oil producing areas as well as more remote parts of the country. Recent increases in foreign investment have begun to slow as a result of uncertainties stemming from OPEC quotas, infrastructure constraints, and contract renegotiations
