Libya facts and figures Apart from petroleum, Libya's other natural resources are natural gas and gypsum. Proven crude oil reserves (million barrels), 48,363. 5 Jun 2019 Libya has estimated oil reserves of 48 billion barrels, the largest in Africa Oil and gas exports constitute around 90 percent of Libya's revenue, 26 Jun 2018 OPEC has estimated Libya's oil reserves at 48 billion barrels, which makes them the biggest in Africa. - Foreign companies -. Petroleum Oil and Gas in a New Libyan Era - Oxford Institute for Energy www.oxfordenergy.org/wpcms/wp-content/uploads/2019/02/Oil-and-Gas-in-a-New-Libyan-Era-Conflict-and-Continuity-MEP-22.pdf
Libya's gas reserves were estimated at about 70 trillion cubic feet (Tcf), and it is thought that there are substantial reserves both onshore and offshore. However, according to the Oil and Gas Journal the gas reserves are estimated at 54.7 trillion cubic feet (Tcf). Presently, the crude oil reserves are XX billion barrels, the natural gas reserves are XX trillion cubic feet and the reserves of natural gas liquids are XX billion barrels. Libya upstream market is expected to grow at a CAGR of XX percent during the forecast period from 2016 to 2021. Libya has the largest proven reserves of oil in Africa, and has been a key supplier of light, sweet crude to Europe. Around 1970 it produced more than 3 million bpd, and before the NATO-backed uprising in which Muammar Gaddafi was toppled and killed seven years ago, it was pumping more than 1.6 million bpd.
25 Aug 2011 With Libya's economy reliant on its high-quality oil and gas reserves, the North African nation's next government undoubtedly will utilize its companies, to explore new reserves in the country and use new techniques for exploration and production of oil and gas. The government of Libya must work 26 Jun 2019 There are about 320 producer field with total reserve exceed 50 billion barrels of oil and 40 trillion cubic feet of gas. Oil field distribution worldwide
Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government The History of the Development of Libyan Gas and Oil Resources Because of its desert condition there was a lot of drilling activity in Libya long before there were any suspicions of there being petroleum. The search for water involved drilling very deep wells. The oil companies in Libya survived but only with diminished opportunities. This is a list of countries by natural gas proven reserves based on The World Factbook (when no citation is given). or other authoritative third-party sources (as cited). Based on data from BP, at the end of 2009, proved gas reserves were dominated by three countries: Iran, Russia, and Qatar, which together held nearly half the world's proven reserves. With Libya's economy reliant on its high-quality oil and gas reserves, the North African nation's next government undoubtedly will utilize its lucrative natural resources.
9 Oct 2017 Since late 2010, Libya's oil and gas sector has been affected by Libya has enormous crude oil reserves to exploit, and oil is the heart of the 16 Mar 2013 Libya's oil and gas sector, long the lifeblood of this desert nation, has the country, which sits atop the largest proven oil reserves in Africa, 16 Feb 2012 As Libya's economy is heavily reliant upon its oil and gas reserves, the nearly six- month civil war disrupted both the production and exportation