North Africa

Libya

Prior to the 2011 revolution Libya was a key member of Opec, producing in excess of 1.5mn b/d. While to paper such levels appear within touching distance, persistent political instability remains the biggest challenge to overcome.

State of Play

Long North Africa’s biggest oil producer, Libya has been chronically unstable since the 2011 revolution that overthrew Gaddafi. An eight-month oil blockade in 2020 reduced crude output to its lowest level since 1962. While oil is flowing again, the future trajectory of the sector remains firmly tied to Libya’s ever-tenuous political atmosphere.

2021 In Numbers

Crude Output	1.181	mn b/d
Gas Exports	3.23	bcm
Oil Rig Count	13	-
Gas Rig Count	0	-

Oil & Gas

1 Sep, 2023

Featured

Libya Eyes 10,000 B/D 1H24 Output At North Hamada

Libya’s NOC has begun the first sustained output at the long-stalled North Hamada (Area 47) project. The target is 10,000 b/d by 2Q 2024, rising to 50,000 b/d.