ENERGY COUNTRY REVIEW

Libya

keyfactsenergy.com

09 10 11 12

Gas ProductionBillion cubic meters

15.1 16

.0

7.5

11.6

13

12.2

14

11.1

Oil ProductionThousand barrels per day

1652

1659

479

1509

09 10 11 12

988

13

498

14

Source: BP Statistical Review

432

15

426

16

15

12.4

16

11.2

865

17

17

11.5

Country Key Facts

Official name: Republic of LibyaCapital: TripoliPopulation: 6,490,933 (2018)Area: 679,362 (sq miles)

1,759,540 (sq km)Form of government: Transitional GovernmentLanguage: Arabic, Italian, and English

widely understood in major cities

Religions: Islam (Sunni)Currency: Libyan dinar (LYD)Calling code: +218

Country Review Libya

Situated in the north of Africa, and sharing a border to thewest with fellow OPEC Member Country Algeria, Libya isthe 16th largest country in the world in terms of land mass,comprising around 1,760 thousand square kilometres. Morethan a quarter of the country’s six million plus inhabitantslive in its capital city, Tripoli. Arabic is the main language.

Apart from petroleum, Libya's other natural resources arenatural gas and gypsum. Its economy depends primarily onrevenues from the oil sector, which contribute about 95 percent of export earnings, about one-quarter of grossdomestic product, and about 95 per cent of governmentrevenues. Substantial revenues from the energy sector,coupled with a small population, give Libya one of thehighest per capita GDPs in Africa.

Libya's first productive oil well was struck in 1959 at Amaland Zelten, now known as Nasser. The country beganexporting oil in 1961.

Libya joined the Organization of the Petroleum ExportingCountries (OPEC) in 1962, a year after Libya beganexporting oil. Libya holds the largest amount of provedcrude oil reserves in Africa, the fourth-largest amount ofproved natural gas reserves on the continent, and it is animportant contributor to the global supply of light, sweet(low sulfur) crude oil, which Libya mostly exports toEuropean markets.

The country's economy depends primarily on the oil sector,which represents over 95 per cent of export earnings.Moreover, the oil and gas sector accounts for about 60 percent of total GDP. Substantial revenues from the energysector, coupled with a small population, give Libya one ofthe highest per capita GDPs in Africa.

Libya/Tunisia Joint Oil Zone

The 768,000 acre offshore Joint Oil Block crosses the maritime borderof Tunisia and Libya. The block is in a rich producing area, flanked bythe large El Bouri, Ashtart and Miskar fields.

The Joint Oil Block contains a large portion of the Zarat discovery,located in Tunisian waters, and five large identified exploration prospects,as well as significant additional prospectivity.

NOC LIBYA

The National Oil Corporation (NOC) was established on 12 November1970, replacing the general Libyan Petroleum Corporation to assumethe responsibility of oil sector operations in Libya.

NOC carries out exploration and production operation through its ownaffiliated companies, or in participation with other companies underservice contracts or any other kind of petroleum investment agreements.

National Oil Company Assekka Road, Tripoli, LibyaTel: 0214446181 l http://noc.ly/index.php/en

Country Review Libya

TUNISIA

L I B Y A

BOURI FIELD

D2-NC41

JOINT OIL BLOCK

Algeria (12.2)Angola (9.5)

Chad (1.5)Republic of Congo (1.6)

Egypt (3.3)Equatorial Guinea (1.1)

Gabon (2.0)Libya (48.4)

Nigeria (37.5)South Sudan (3.5)

Sudan (1.5Tunisia (0.4)

Other Africa (4.0)

Proved oil reserves at 2017 year end (billion bbls)

Algeria (4.3)Egypt (1.8)Libya (1.4)

Nigeria (5.2)Other Africa (1.1)

Proved gas reserves at 2017 year end (trillion cubic metres)

Algeria (1540)Angola (1674)

Chad (103)Republic of Congo (291)

Egypt (660)Equatorial Guinea (199)

Gabon (200)Libya (865)

Nigeria (1988)South Sudan (109)

Sudan (86)Tunisia (53)

Other Africa (306)

2017 Oil production (thousand bbls per day)

Algeria (91.2)Egypt (49.0)Libya (11.5)

Nigeria (47.2)Other Africa (26.0)

2017 gas production (billion cubic metres)

Source: BP Statistical Review

Country Review Libya

Country Review Libya