Middle East Economic Survey


No 41


Libya Unveils Development Program, But IOCs Face Continued Uncertainty

Libya has unveiled a $10bn oil field development program in unprecedented detail. The program targets 24 fields between now and 2013, and could add over 5bn barrels to the country’s proven reserves, which at around 44bn barrels are the largest in Africa. Thanks to efforts spearheaded by the National Oil Corporation’s (NOC’s) reform-minded former...