Libya’s oil and gas sector will play a central part in restoring the country’s economy after the revolution in 2011 that toppled Muammar Gaddafi's 42-year dictatorship. They are key to Libya’s transition to a democracy, if managed properly. Major oil fields are already coming back on stream boosting world energy supplies and a large part of the country remains unexplored. But, uncertainty faces both new and existing investors. And as Russian American author Isaac Asimov once said: ‘It is the transition that is troublesome.’

LIBYA holds the eighth largest proven oil reserves in the world and the largest in Africa. Although oil activity started in the 1950s, the country remains highly ...

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Dr. Carole Nakhle
The cost of oil recovery is amongst the lowest in the world, reaching as low as US$1-$2 per barrel in some areas. With an oil price exceeding US$100 per barrel, it is no wonder that Libya is in the sights of international oil companies
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