Éditoriaux de l'Ifri - Libya: Old or New Picture? Risks of political uncertainty for the gas and oil business Actuelles de l'Ifri, January 2012
Publié le 16/01/2012
Libya has an opportunity to get back on track. The end of embargoes and sanctions after the conclusion of the “February Revolution” is favoring a fast production growth.
For the IEA the oil production should recover and reach almost pre-war levels in 2013 with a production of 1,1 million barrels/day. The new Oil Minister Abdul-Rahman Ben Yezza should soon undertake a renewal in the Exploration and Production Sharing Agreement (EPSA) rounds that stopped during the conflict
The race for Libya’s oil and gas seems to have just started. But the growing presence of international companies began before the end of the Qaddafi’s regime, when sanctions and trade bans were lifted in 2002 and 2003.