Libya draws in more than US$5bn through oil and gas revenues for Q2 2023Libya generated more than US$5bn revenues from sales of crude oil, gas, condensates and petrochemicals in the second half of this year, noted the country's national oil corporation (NOC) in one of its social media handlesRecent developments herald good times for Libya's oil and gas sector. (Image source: Adobe Stock)The post also pointed out that oil exports last May produced US$1.57bn in revenues. This latest update, along with the news of major companies lifting force majeure in the country, heralds good times for Libya's oil and gas sector. Eni North Africa will go in full swing with the Bouri Gas Utilisation Project and has onboarded Saipem to revamp the platforms and facilities inside the gas field: https://www.oilreviewafrica.com/gas/gas/mellitah-consortium-awards-contract-to-saipem-on-billion-dollar-gas-project-in-libya. Libya's oil production in June averaged 1.15 mn barrels of oil per day (bopd), unchanged from the month before: https://www.oilreviewafrica.com/exploration/exploration/libyas-oil-production-remains-consistent-for-two-consecutive-months.Turn to Page 12 of the latest issue of Oil Review Africa (https://www.oilreviewafrica.com/current-issue) to get an in-depth analysis of Libya's hydrocarbon potential.

Source: The North Africa Journal August 24, 2023 17:05 UTC