Libya oil and gas map, North

Pressure on government to deliver as Libya relaunches upstream strategy while Eni deal comes under fire

Issue 480 - 16 Mar 2023 - By John Hamilton | 6 minute read

National Oil Corporation has relaunched its growth-oriented upstream strategy and is encouraging international companies to help Libya achieve the 2m b/d crude oil production target mooted for at least 15 years. Eni’s recent huge gas development agreement with NOC suggests the market’s need for Libyan hydrocarbons has trumped more pessimistic assessments of the government’s capabilities, but widespread political, social and legal opposition to the Italian deal is a reminder that, while huge growth in oil and gas production is technically feasible, developments remain prey to Libya’s volatile politics.

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