Country Report
Libya upstream summary
Report summary
Libya has the second-largest oil and gas reserves in Africa, but production is 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 and damage to facilities. Production from Libya's oil fields was steady in 2021 at 1.2 million b/d. In 2022 there was a three-month outage that reduced annual production by around 300 kb/d. Libya's National Oil Corporation (NOC) has set an ...
Table of contents
- 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
-
Liquids
-
Infrastructure
- Oil infrastructure
- Existing liquids pipelines
-
Refining
- Marsa El Brega refinery
- Zawiyah refinery
- Ras Lanuf refinery
- Tobruk (Marsa El Hariga) refinery
- Sarir refinery
-
Gas infrastructure
- Greenstream pipeline
-
LNG Projects
- Marsa el Brega LNG plant
-
Costs
-
Capital costs
- Capital expenditure by location
-
Capital costs
-
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
-
Key legislation
-
Fiscal terms
-
Current fiscal terms
- Upstream
- Mid/Downstream
- Pipelines
- Gas utilisation
- Production Sharing Agreements (EPSA)
- State equity participation
- Carry & reimbursement
- Bonuses, rentals and fees
- Signature bonuses
- Production bonuses
- Area rentals
- Training fees
- Other bonuses and fees
- Indirect taxes
- Import and export duties
- Social development levies
- Royalty and other production taxes
- Environmental / CO2 taxes
- Other production taxes
- Contractor revenue entitlement
- Product pricing
-
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
- Indirect taxes
- Import duties
- Social development levies
- Royalty and other production taxes
- Royalty
- Environmental / CO2 taxes
- Domestic market obligation (DMO)
- Contractor revenue entitlement
- Margin
- Liquids pricing
- Gas pricing
- Corporate (or Petroleum) income tax
- Tax rate
- Investment uplift/credit
- Additional profits taxes
- Fiscal/Contractual ring-fences
-
Current fiscal terms
Tables and charts
This report includes 29 images and tables including:
- Key facts: Table 1
- Libya
- Reserves and contingent resources at 01/01/2024
- Liquids and Gas Production 2023
- Libya geology map
- Blocks awarded (2000-2022)
- Reserves and resources: Table 1
- Total reserves by product type
- Reserves and resources: Table 3
- Oil infrastructure map
- Infrastructure: Table 1
- Exploration: Table 1
- Exploration: Table 2
- Drilling activity by well type
- Exploration drilling by basin
- Reserves and resources: Table 2
- Liquids production
- Production: Table 1
- Production: Table 2
- Sales gas
- Production: Table 3
- Production: Table 4
- Infrastructure: Table 2
- Planned Gas Pipelines
- Costs: Table 1
- Costs: Table 2
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
What's included
This report contains:
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