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‘The Opportunities Are Massive’: The Risks & Rewards Of Operating In Libya
...mbined production capacity of about 250,000 b/d (see map). A decade of near-continuous instability following the ouster of Gaddafi in 2011 has not done the country’s all-important oil sector any favors. The resulting fighting, mismanagement and forced shutdowns have left infrastructure in ta...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Libya’s 2021 Finances Boosted By Oil Revenues, Skewed By Dinar Devaluation
...nister Abdulhamid Dbeibeh was frequently accused of overspending to boost his popularity: hiking wages, granting generous marriage allowances, and awarding numerous government contracts. But in dollar terms, spending of $19.1bn was the lowest since 2011 – the year in which a bloody civil war ousted lo...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Apache Looks To Egypt Growth Following Contract Modernization
...5,000 b/d for 2022 and average growth of 8-10%/year out to 2025, hitting 190,000 b/d by the latter date. This would still be below output every year for 2011-2019, however, whilst for gas the news is less good with output merely “expected to remain relatively stable at 550-600mn cfd.” Stable that is with th...
Volume: 65Issue: 01Published at Fri, 07 Jan 2022 -
Libya’s Harouge Hits 44,000 B/D In 2021, Eyes More
...start of the Naga field. Harouge, which is a 49:51 JV between Canada’s Suncor and Libya’s NOC, had an output capacity of almost 100,000 b/d before the 2011 revolution. But gross output levels have languished well below a third of this for much of the past decade due to a lack of maintenance, damage to fa...
Volume: 65Issue: 01Published at Fri, 07 Jan 2022