Libya: Committees discuss new hydrocarbons law and EPSA-V

With more than half of production shut in, a security deficit under which many international oil companies (IOCs) will not operate, and budget and decision-making problems which mean that new projects are stymied, there are few ways in which National Oil Corporation (NOC) and the Ministry of Oil and Gas can move forward. But officials are pushing ahead with the drafting of a new hydrocarbons law. In March, the ministry formed a 21-member Petroleum Law Review Committee containing specialists from within and outside the sector. It is chaired by Najmi Karim, who was previously chairman of Mellitah Oil and Gas. A committee to revise the terms of the new EPSA-V licensing model has been established in parallel.