Libya generated more than US$5bn revenues from sales of crude oil, gas, condensates and petrochemicals in the second half of this year, noted the countrys national oil corporation (NOC) in one of its social media handles
The post also pointed out that oil exports last May produced US$1.57bn in revenues.
This latest update, along with the news of major companies lifting force majeure in the country, heralds good times for Libya's oil and gas sector. Eni North Africa will go in full swing with the Bouri Gas Utilisation Project and has onboarded Saipem to revamp the platforms and facilities inside the gas field: https://www.oilreviewafrica.com/gas/gas/mellitah-consortium-awards-contract-to-saipem-on-billion-dollar-gas-project-in-libya. Eni and British Petroleum will resume exploration and contractual obligations in the blocks awarded to them in the Ghadames Basin (A-B) and offshore Block C. Algerian company Sonatrach too will resume activities in blocks 065 and 96/95 in the Ghadames Basin.
Libya's oil production in June averaged 1.15 mn barrels of oil per day (bopd), unchanged from the month before: https://www.oilreviewafrica.com/exploration/exploration/libyas-oil-production-remains-consistent-for-two-consecutive-months.Turn to Page 12 of the latest issue of Oil Review Africa (https://www.oilreviewafrica.com/current-issue) to get an in-depth analysis of Libya's hydrocarbon potential.
