The Libyan Market
UN sanctions were lifted against Libya in 1999 opening up tremendous opportunities for international and domestic investors. Libya’s economy is based on oil with oil-related exports contributing between 75% and 90% of State revenues. With the suspensions of sanctions, oil companies are eager to resume and expand in Libya, especially as Libya is easing the hydrocarbon legislation and establishing a free-trade zone to improve terms for foreign investment.
Libyan Oil Market
- Proven Oil Reserves between 29.5 billion barrels and 45 billion barrels
- Africa’s second biggest oil producer and the largest African oil supplier to Europe.
- Target to increase country’s oil production capacity by a further 33% from 1.5 million bbl/d at present to 2 million bbl/d by 2003
- To achieve its oil sector goals, Libya will require as much as $10 billion in foreign investment before 2010
- Libya retains a large untapped oil and gas potential, only 25% of Libya’s area is covered by agreements with oil companies.
- Downstream capacity of approximately 343,400 bbl/d
Libyan Gas Market
- Proven Gas Reserves of 46.4 Tcf
- Estimated Gas Production of 0.22 Tcf in 2001
- Estimated Gas Consumption of 0.18 Tcf in 2001
- To expand its gas production and distribution, Libya is looking to foreign participation and investment.
- Potential for a large increase in Libyan gas exports to Europe as a project calls to export 280 Bcf of gas to Italy and France
- Libya currently exports 124 Bcf of LNG but it could triple with the support of foreign investment.
Libyan Key Facts
Population: 5.6 million (2000E)
Land Area: 1,775,500 sq. km
Language: Arabic, Italian and English widely understood in major cities
Currency: Libyan Dinar (LD)
GDP real rate: 4.5% (2001E)
African Petroleum Producers Association (APPA)
APPA was formed in 1987 by the African oil producing countries to be a common platform for co-operation and exchanges of experience and information in order to derive maximum benefits from their petroleum resources. APPA is the only African intergovernmental organisation concerned with hydrocarbon affairs and plays a significant role in facilitating co-operation, co-ordination, exchanges and technical assistance for the growth of the continent’s oil industry.
Members of APPA:
- Minister of Energy & Mines: HE Chakib Khelil
- Proven oil reserves of 9.2 billion barrels
- Average crude oil production of 827,000 bbl/d in 2001
- Downstream refining capacity of 450,000 bbl/d in 2001
- Target is to increase crude oil production capacity by 60% to 1.5 million bbl/d by 2004 through significant amounts of foreign capital and expertise.
- HE Chakib Khelil, Minister of Energy & Mines stated objectives ‘to double the number of companies operating in Algeria over the next 5 years
- Minister of Petroleum: H.E. Jose Maria Botelho de Vasconcelos
- Proven oil reserves of 5.4 billion barrels
- Average crude oil production of 746,000 bbl/d in 2000
- Downstream refining capacity of 39,000 bbl/d with a plan to develop a new 200,000 bbl/d refinery.
- Target is to increase oil production capacity to 1.4 bbl/d by 2004
- Sonangol announced in 2000 that $18 billion in oil investment was planned for implementation before 2004
- Minister of Energy and Hydraulics: H.E. Felix Dansou
- Average crude oil production of 470,000 barrels in 1997
- A new oil terminal with a capacity of 55,000 cubic metres of crude was opened at Cotonou at the end of 1999
- A new investment code has been proposed with more beneficial fiscal terms in order to encourage investors
- Benin is involved in the planned West Africa gas pipeline running from Nigeria to Cote d’Ivoire.
- Minister of Mines, Water Resources and Energy: H.E. Jacques Yves Mbele Ndoe
- Proven oil reserves of 400 million barrels
- Average crude oil production of 84,800 bb/d in 2000
- Net Oil exports 58,800 bbl/d in 2000
- Downstream refining capacity of 26,000 bbl/d in 2000
- Refinery capacity and position at the terminus of the 225,000 bbl/d export pipeline from Chad will transform the country into a significant oil transport centre.
- Minister of Petroleum Affairs: H.E. Jean-Baptiste Taty-Loutard
- Proven oil reserves of 1.5 billion barrels
- Average crude oil production of 265,000 bbl/d 2000
- Downstream refining capacity of 21,000 bbl/d
- With the development of new offshore oil fields and foreign investments, Congo is becoming increasingly important to world energy markets
- In 1994 Congo enacted new hydrocarbon legislation offering production – sharing agreements to foreign oil companies where they act as contractors for the national oil company.
- Minister of Mines and Energy: H.E. Leon Emanuel Monnet
- Proven oil reserves of 100 million barrels
- Average crude oil production of 12,000 bbl/d in 2001
- Downstream refining capacity of 65,200 bbl/d in 2001
- Leading area for hydrocarbon exploration in Sub-Saharan Africa after recent offshore discoveries in the Gulf of Guinea
- An $84 million expansion which would increase refining capacity to 88,000 bbl/c was announce in1998.
DEMOCRATIC REPUBLIC OF CONGO
- Minister of Petroleum Resources: H.E. Anatole Bishikwabo Chubaka
- Proven oil reserves of 187 million barrels
- Average crude oil production of 25,100 bbl/d in 2000
- Downstream refining capacity of 15,000 bbl/d but the government is planning to upgrade to 50,000 bbl/d depending on finding foreign investment
- Two major projects have been started in an attempt to increase production levels both onshore and offshore
- The Ministry of Energy is updating petroleum legislature to supervise and control the awarding of exploration permits and production concessions.
- Minister of Petroleum: H.E. Sameh Fahmy
- Proven oil reserves of 2.9 billion barrels
- Oil production of 713,000 bb/d in 2001 of which 639,000 bbl/d is crude oil
- Downstream refining capacity of 726,250 bbl/d with further plans to build five new refineries and petrochemical plants valued at $2.5 billion.
- The Suez Canal and Sumed Pipeline are strategic routes for Persian Gulf oil shipments, making Egypt an important transit corridor
- Egypt is encouraging that exploration activity, particularly in new areas such as in the Mediterranean.
- Minister of Mines and Energy: H.E. Cristobal Menana Ela
- Proven oil reserves of 508 million barrels
- Average oil production 181,000 bbl/d of which 146,000 bbl/d was crude oil in 2001
- Oil production has increased more than tenfold since 1996, when production averaged 17,000 bbl/d
- Net oil exports of 180,000 bbl/d in 2001
- In July 2001 President Obiang announced plans to renegotiate hydrocarbon contracts to increase the country’s participation in oil licences, making Equatorial Guinea one of the leading areas for oil exploration in Sub-Saharan Africa .
- Minister of State for Mines and Energy: H.E. Paul Toungui
- Proven oil reserves of 2.5 billion barrels
- Average crude oil production of 330,900 bbl/d in 2000
- Downstream refining capacity of 17,300 bbl/d
- Gabon’s oil ministry has revised its production-sharing contracts to attract new investors and has increased the number of exploration permits.
- Gabon offered 27 blocks of which 13 onshore, five were located in shallow water and nine were in deep water
- Petroleum Honourable Advisor: Rilwanu Lukman
- Proven oil reserves of 22.5 billion barrels
- Average crude oil production of 2.14 million bbl/d in 2000
- Downstream refining capacity of 438,750 bbl/d in 2001
- Largest oil producer in Africa and a key member of OPEC
- In March 2000 Nigeria opened competitive bidding on 22 new oil blocks, including 11 in the Niger Delta deep and ultra deep offshore.
Organiser: CWC Associates Limited
Price: Visitor attendance is free of charge
Exhibition Space is now available at the African Petroleum Producers Association Congress and Exhibition. For more information please contact
3 Tyers Gate, London SE1 3HX, UK