Developing the Libyan Marginal Fields: Opportunities and Risks
Article from: OGEL 1 (2006), in Economic and Commercial Context for Oil, Gas and Energy Law
Abstract
In this paper the author critically examines the failure of the Libyan government to deal effectively with the 135 so-called Libyan marginal fields, largely discovered during the first intensive exploration phase in Libya in the 1960s, but sidelined due to the economic, fiscal and strategic priorities of both the Libyan National Oil Corporation (LNOC) and the international oil companies (IOCs). It is timely to constructively examine the development of these fields since, holding an aggregate of around 3.6 billion bbl of reserves, they represent a major Libyan ...