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Libya Unites Large-Scale Production with Frontier Potential


  • Home to the largest recoverable reserves on the continent, Libya's vast and underexplored basins are sparking the interest of major operators, as the North African producer seeks to sustain oil output in the long-term.
  • While Libya saw the temporary halt of its oil production earlier this year due to conflict between the U.N.-backed Government of National Accord (GNA) and the Libyan National Army (LNA), the North African producer still retains the largest oil deposits in Africa, with more than 48 billion barrels of estimated recoverable reserves.
  • Before the suspension of oil exports, Libya's production was on a steady growth trajectory, rising to 1.13 million bpd in December 2019 and planning to reach 1.5 million bpd in 2020 and 2.1 million bpd by 2023.



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