Home to the largest recoverable reserves on the continent, Libya’s vast and underexplored basins have long-sparked the interest of major operators, offering attractive prospects in both mature and frontier acreage. While growth of the country’s fossil fuel sector has been impeded by over a decade of civil war, newfound peace and stability established in March has led the State to target a rise in oil output and drive foreign direct investment in emerging renewable development, refining infrastructure upgrades and power sector rehabilitation.
Timeline: A New Administration Unites
10-Year Oil Production
Unlocking Large-Scale Renewable Potential
Libya’s renewable wealth offers the potential to diversify its energy matrix and provide decentralized power solutions, yet requires a significant inflow of private investment and more supportive policies from the government in fostering competitive bidding and long-term power purchase agreements for renewable developers. 22% of electricity generation is targeted to come from renewables by 2030.
Upgrading Midstream & Downstream Infrastructure
With a strategic position on the Mediterranean, Libya is linked to several export terminals on its northern coast and boasts an extensive pipeline network, although infrastructure remains in critical need of rehabilitation.
Timeline: Leading IOCs Recommit to Libya
The Libya Energy & Economic Summit 2021 will be held on 22-23 November 2021, in-person in Tripoli and on Zoom for online participants. Energy Capital & Power is honored to work with the Government of National Unity and all industry participants to produce this historic summit.
Companies interested in supporting the event can contact [email protected] for more information. Individuals and organizations that wish to join as speakers or panelists can contact [email protected] and media partners can contact [email protected]. Learn more at www.libyasummit.com.
