In this Handbook, the authors analyse Libyan investment opportunities in the Oil and Gas Sector. They discuss all aspects of the Libyan petroleum sector ranging from upstream, midstream and downstream evaluating technical, legal and commercial developments and their bearing on Libyan investment opportunities.
Their Handbook is market-oriented and is primarily designed for the foreign investor interested in taking advantage of the recent major changes in Libyas geo-political circumstances. To a limited extent it might also be of assistance to Libyan government policymakers.
Table of contents
Foreword by...
- The Libyan Prime Minister, Dr. Shukri Ghanem
- The Libyan Minister of Energy, Professor Fathi Shatwan
- The Chairman of the Libyan National Oil Corporation, Abdulla Salem El-Badri
- Professor Thomas W. W?lde
Synopsis - Executive Summary
- Recent Geopolitical Developments in the Libyan Oil and Gas Sector
- The Petroleum Prospectivity of Libya
- Libyan Oil and Gas Reserves and Production in the Context of World Supply and Demand
- Libyas Petroleum Infrastructure
- Statistics on the Libyan National Economy
- New Developments in the Libyan Petroleum Sector
- The Future Petroleum Potential of Libya
- References
Chapter One, An introduction to Libya
- Brief Introduction
- Geography of Libya
- Libyan weather
- The People of Libya
- The Italian Occupation of Libya
- Liberation and the Post-War Period
- The Libyan Economic Sector before the Coming of Oil
- Oil and the Changing Face of the Libyan Economy
- The Libyan Revolution of 1969 and Oil
- New Libyan Government of 1969 and Reorganisation of the Oil Industry
- Libyas New Political Institutions
- Modern Libyan Petroleum and Business Legislation
- Libyan Current and Future Economic Growth
- Development of the Libyan Economic Sector
- New Libyan Taxation Law
- New Plans to Boost Tourism
- Libya and the European Union
- The Changing Libyan / European / United States Relationship
- The UN-US Sanctions and the Libyan Petroleum Industry
- The Impact of Sanctions on the Libyan Petroleum Industry
- Financial Losses Caused by the Sanctions
- The Causes of the Losses in the Downstream Sector
- Libya and the Geopolitics of Oil
- References
Chapter Two, A Regional Geologic History of Libya and of North Africa
- Gondwanaland and the African Plate
- The regional geologic and tectono-stratigraphic history of the north-central part of the African continent: the depositional mega-sequences
- The Precambrian rocks in the Afro-Arabian Plate and the associated Pan-African tectonic events
- Mega-sequence One, Cambro-Ordovician to Permo-Carboniferous structural and stratigraphic development
- Mega-sequence Two, Middle Carboniferous to Triassic
- Mega-sequence Three, Jurassic and Cretaceous/early Tertiary
- Mega-sequence Four, Tertiary
- Mega-sequence Five
- The Alpine Orogeny in North Africa
- References
Chapter Three, The Petroleum Exploration and Production History of libya
- Brief Introduction
- Early Field Geological and Geographical work in the Sahara Desert
- Early Petroleum Exploration in North Africa
- The Search for Oil in Libya - First Moves
- Beginnings of the Giant Oil Discoveries 1955-1971
- Second Wave of Oil Discoveries and Developments
- Oil Reserves
- Changing Trends in Libyan Crude Oil Production
- Current Status of Libyan Crude Oil Production
- Review of Factors Influencing Declining Oil Exploration and Production
- Future Strategies and the Importance of New Technology
- References
Chapter Four, The Petroleum Exploration and Production Geology of Libya
- Libyan stratigraphic orthography
- The direction of exploration for North Africa petroleum
- Libyan discoveries and fields
- Libyan petroleum systems
- Libyan petroleum geochemistry
- The Sirte Basin and its petroleum systems
- The Illizi-Ghadames Basin and its petroleum systems
- The Murzuq basin and its petroleum systems
- The Djeffara-Pelagian basin and its petroleum systems
- The Cyrenaica Basin and its petroleum systems
- The Kufra Basin and its petroleum systems
- The Habitat of Oil and Gas in Libya
- Fields in the Illizi-Ghadames Basin
- The Djefarra-Pelagian basin Bouri field
- References
Chapter Five, Libyan Petroleum Law and Agreements: Economic and Policy Aspects
- Fundamentals of Petroleum Industry Fiscal Policy
- Libyan Mineral Law
- Petroleum Law No. 25 and the Libyan Concessions
- Regulation No.8 of the Libyan Petroleum Law
- Joint Venture Agreements and the Emergence of the Libyan National Oil Corporation
- Libyan Governments Take under the JVAs
- JVAs verses Traditional Concessions
- Re-positioning of Libyan National Oil Corporation (LNOC)
- Role of the Libyan Secretariat (Ministry) of Energy
- Nationalisation/Participation Agreements
- Exploration and Production-Sharing Agreements (EPSAs)
- EPSA-I, 1974
- EPSA-II, 1980
- EPSA-III, 1988
- Suspension of UN Sanctions, April 1999, and the Introduction of the Modified EPSA-III Model
- Analysis of the 2000 Bidding Round
- EPSA IV, 2004
- o Cost Sharing and Expenses
- o Sharing of Petroleum Production
- o Company Management and Supervision
- o Law and Disputes
- A Critical Review of the EPSA-IV Terms:
- o Cost Recovery Limit and Oil Price Risk
- o Significance of A and B Factors
- o Small and Marginal Discoveries
- The Future Direction of Libyas Petroleum Industry - Fiscal and Legal Aspects
- New Draft Petroleum Law
- Final Remarks
- References
Chapter Six, The Marketing & Pricing of Libyan Crude Oil
- Early Period of International Petroleum Markets
- Oil Markets Post WWII: the Emergence of OPEC
- Factors Determining Prices of Crude Oil
- Beginning of the Pricing of Libyan Crude Oil
- Libyan Oil Price under Petroleum Law No. 25, April 1955
- Libyan Posted Price and Marketing Systems by IOCs
- Posted Price and Amended Law No. 25, 1961
- Libya joins the Organisation of Oil Exporting Countries (OPEC)
- OPEC and Oil Price Settlements
- The 1967 War and the Suez Canal Allowance of the Libyan Posted Price
- Emergence of the Organisation of Arab Petroleum Exporting Countries (OAPEC)
- The New Government and IOCs Dispute over Oil Prices
- 1 September 1970 Settlement
- Caracas Posted Prices Agreement
- Tehran Agreement of 14 February 1971
- Tripoli Agreement of 20 March 1971
- Establishment of the El Brega Oil Marketing Company
- Impact of the Dollar Devaluation on Posted Prices in the early 1970s
- First Oil Shock 1973
- OPEC Adopts New Oil Pricing System
- Second Oil Price Shock, 1980s
- Libyan Crude Prices Based On Brent Markets
- New Marketing Policy
- Future Prospects of Libyan Pricing and Marketing Strategy
- References
Chapter Seven, Libyan Downstream and Midstream Petroleum Industry
- Background
- Domestic Refineries and the Petrochemical Industry
- o El-Brega Refinery
- o El-Brega Petrochemical Complex
- o Al-Zawia Refinery
- o Al Zawia Lubricating Oils Unit
- o Al-Zawia and Benghazi Asphalt Factories
- o Refurbishment and Development Plans for Al-Zawia Refinery
- o Ras Lanuf Refinery and Petrochemical Complex
- o Ras Lanuf Petrochemical Complex
- o Tobruk Refinery
- o Sarir Refinery
- Planned Refineries
- o Sebha Refinery
- o Misurata Refinery
- The Libyan Domestic Oil and Gas Distribution and Storage Sector
- o Oil and Gas Pipelines
- o Maritime Transport and Terminals
- Libyan Overseas Refineries
- Italy: Cremona Refinery and Distribution Networks
- Germany - the Hamburg Refinery and Distribution Networks
- Switzerland - Collombey Refinery and Distribution Network
- Other Regional Distribution and Marketing Activities
- Africa
- Concluding remarks
- References
Chapter Eight, The Libyan Gas Industry
- Introduction
- North African Regional Gas Potential
- Libyan Gas Sector
- Exploration and Development of the Gas Sector
- Western Libya Gas Project
- Gas Reserves
- Gas Production
- Domestic Gas Demand - Set to Rise
- Liquefied Natural Gas
- Exports of Libyan Liquefied Natural Gas
- Liquefied Petroleum Gas
- Libyan Gas Sector: Current Situation
- Future Prospects and Gas Development Plans
- New Gas Fiscal Policy
- References
Chapter Nine, The Libyan Petroleum Industry in the 21st Century
- Recent Trends in the World Oil Sector
- Libyan Petroleum Sector in the Year 2004
- The Mediterranean Basin
- European Energy Developments Post Second World War
- The Events of the 1970s and the 1980s
- The 1990s and the New Millennium
- European Energy Supply and the Countries of North Africa and the Middle East
- Decline of the American Economy and of the Dollar and the Rise of the Euro
- The Rise of China and India
- Coming World Shortage of Oil and Gas
- Europe, the Euro and World Energy Price Trends
- Gas Pricing in the Mediterranean Basin
- Future Discoveries of Oil and Gas in Libya
- Libyan Petroleum Law and Agreements
- Marketing and Pricing of Libyan Crude Oil
- Libyan Downstream and Midstream Petroleum Industry
- Libyas Gas Industry
- References
Appendix
- The Minerals Law of 1953
- Oil Sector Directory
- Pipelines and Oil & Gas fields with Petroleum Consessions
