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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
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