FIRST

North Africa"s key player returns to centre stage

Introduction

With much of Libya’s acreage still unexplored, it is easy to underestimate the country’s enormous hydrocarbon potential

Current opportunities in upstream

Overall oil revenues account for some 90 per cent of Libya’s exports, 60 per cent of government income and 30 per cent of GDP

Upstream and the Libyan economy

Libya has the potential to increase oil production dramatically but will need some flexibility from OPEC on quotas

Libya’s role as a major producer

The National Oil Corporation has been instrumental in maximising returns from Libya’s oil sector

The strategic role of NOC

An open door to investment

Abdalla Salem El-Badri Abdalla Salem El-Badri

Chairman, National Oil Corporation of Libya

Building on past successes

Dr Hussein Seddiq

Head of Exploration Department, NOC

New opportunities for hydrocarbon exploration and production with an emphasis on Paleozoic prospectivity

Dr Daniel Paul Le Heron and Dr Bindra Thusu

Libya’s mature and frontier basins

Protecting the environment

Abdullatif Benrageb

Head, Environment Protection Department NOC, & Chairman, Environment and Archaeology Committee

The EPSA framework and its successful implementation has strengthened international confidence in the management of Libya’s oil sector

The evolution of EPSA

The government’s more flexible and financially attractive interpretation of the EPSA-IV model proves a hit with international investors

2nd round finds winning formula