Libya is regarded as a very attractive oil country due to its lower cost of oil production and its proximity to European markets.
A highly attractive oil-producing country
Libya is regarded as a very attractive oil country due to its lower cost of oil production and its proximity to European markets.
The growth of the oil and gas sector has been hampered because of the civil war in the country.
Libya is seeking to increase production but with oil fields showing a 7-8% decline in production, its challenge is to maintain production from mature fields, while finding and developing new prolific fields.
Much of Libya’s territory is unexplored because of past sanctions and disagreements with oil companies.
A fresh economic start
Oil and gas exploration projects and increased Libyan oil and gas production are expected to drive demand in the market.
2021: First economic conference in Libya in ten years
On the occasion of the Libya Energy & Economy Summit, the first economic conference organised in Libya in 10 years at the initiative of the government of national unity, Total Energies signed various agreements with the Libyan authorities for the sustainable development of the country’s natural resources.
These agreements aim to develop solar projects to bring electricity to the people of Libya and to invest in projects to reduce gas flaring on oil fields to supply gas to power plants, as well as to contribute to the national objective of restoring the country’s oil production to 2 million barrels per day and supply the world markets.
A memorandum of understanding was signed between Total Energies and the national electricity company for the development of solar photovoltaic projects with a total capacity of 500 MW to supply the Libyan electricity grid.
Phénicia Conseil: international recruitment firm and expert in the Libyan Oil & Gas market
Phénicia Conseil was the only international recruitment firm present at the Libya Energy & Economy Summit 2021 in Tripoli to attend the first energy event in Libya in almost a decade.
The aim of the event was to attract capital, technology and expertise to the country’s energy sector.
Phénicia Conseil is regularly solicited by international groups in the Libyan Oil & Gas sector for the recruitment of Project Managers, Design Engineers, Operations Managers, CFOs and Finance Managers.
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