Does Libya still hold opportunities for IOCs?
The end-July deal to reopen the ports should be good news for investors. But convincing them to return may take time
The prospect of even a semi-successful unity deal between Libya's rival National Oil Corporations (NOCs) may prove a bonanza for engineering and project management firms as producers scramble to re-open dormant fields and ports. Some big international oil companies (IOCs) like BP and Shell have shelved their exploration plans for Libya, while producers like Eni, Total, OMV, Repsol, Wintershall have either restricted activities to offshore plays-if they have them-or watched in alarm as onshore assets are attacked or left fallow because of insecurity concerns. Project managers that operated in Libya until the civil war will, though, expect to be at the front of the line for work on the four Ps
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