Tripoli
Libya’s upstream promise still hamstrung by instability
But the troubled north African nation is not short of international investment interest
Soon after Libyan oil minister Mohamed Oun spoke to Petroleum Economist in late September, Libya’s National Oil Corporation (NOC) signed a memorandum of understanding with Norway’s Equinor with the stated aim “to study and evaluate the oil and gas potential in the Libyan maritime region”. The deal was signed in Tripoli and included provisions to train young Libyans for the oil and gas sector. Equinor has been active in Libya for decades and holds non-operating stakes in the Murzuq Basin and the Mabruk field, where production was suspended following a 2015 militant attack. The Norwegian firm also stated that “more recently, our engagement in lifting and marketing Libyan crude oil has become a
Also in this section
16 June 2025
The launch of the much-needed yet oft-delayed Africa Energy Bank remains shrouded in questions and funding constraints, but its potential is clear
16 June 2025
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
