Libya Oil Almanac PDF
Preview Libya Oil Almanac
Libya Oil Almanac An OpenOil Reference Guide 1 2 Table of Contents List of Abbreviations............................................................................................................7 Preface..................................................................................................................................9 History and Context Libya's Oil Industry pre-1969............................................................................................10 Libya's Oil Industry Under Gaddhafi................................................................................10 Libya's Membership of OPEC.............................................................................................14 Sanctions Against Libya.....................................................................................................16 Libya's reintegration in the international community..................................................19 Libyan Oil Industry post-2011...........................................................................................21 Corruption in Libya............................................................................................................22 Shipping in Libya...............................................................................................................24 Energy Industry Background Libyan Hydrocarbon Reserves and Production...............................................................27 Dependence on Extractives Revenues..............................................................................29 The 'Energy Mix'................................................................................................................30 Generic Oil and Gas Terms Resource Curse...................................................................................................................33 Definition of Hydrocarbon Reserves................................................................................36 Crude Oil Qualities.............................................................................................................38 Oil Field Depletion..............................................................................................................40 Enhanced Oil Recovery (EOR)...........................................................................................41 Offshore Drilling................................................................................................................42 Natural Gas.........................................................................................................................45 Natural Gas Flaring............................................................................................................46 Fuel Subsidies.....................................................................................................................47 Oilfield services industry..................................................................................................50 Regulatory Framework Overview of Libyan Regulation.........................................................................................53 EPSA III................................................................................................................................55 EPSA IV................................................................................................................................56 Types of Oil Contracts........................................................................................................58 International Entities Operating Environment in Libya......................................................................................62 BP.........................................................................................................................................63 China National Petroleum Corporation...........................................................................65 ConocoPhillips....................................................................................................................67 Eni........................................................................................................................................69 ExxonMobil.........................................................................................................................71 Gazprom..............................................................................................................................73 Hess Corporation................................................................................................................76 Marathon Oil Corporation.................................................................................................77 3 Occidental Petroleum........................................................................................................79 OMV.....................................................................................................................................81 PetroCanada/Suncor.........................................................................................................84 PGNiG..................................................................................................................................86 Repsol YPF..........................................................................................................................87 Shell.....................................................................................................................................89 Statoil..................................................................................................................................91 Total....................................................................................................................................93 Wintershall.........................................................................................................................95 State Entities Libyan Ministry of Oil........................................................................................................98 Central Bank of Libya (CBL)..............................................................................................98 Libyan Investment Authority (LIA)..................................................................................99 Tamoil...............................................................................................................................102 Libyan NOC and its subsidiaries Libyan National Oil Corporation (NOC)..........................................................................104 Arabian Gulf Oil Company (Agoco).................................................................................106 Brega Petroleum Marketing Company...........................................................................107 Zawia Oil Refining Company...........................................................................................107 Sirte Oil Company (SOC)..................................................................................................108 Joint Ventures Akakus Oil Operations (AOO)..........................................................................................109 Harouge Oil Operations (HOO)........................................................................................110 Mabruk Oil Operations (MOO)........................................................................................111 Mellitah Oil and Gas (MOG).............................................................................................113 Waha Oil Company (WOC)...............................................................................................114 Zuetina Oil Company (ZOC).............................................................................................115 Key Infrastructure Overview of Infrastructure.............................................................................................117 Terminals and refineries Es Sider Terminal.............................................................................................................118 Ras Lanuf Refinery and Terminal...................................................................................119 Brega Complex.................................................................................................................120 Sarir Topping Facility......................................................................................................121 Tobruk Refinery and Terminal.......................................................................................122 Zawia Refinery and Terminal.........................................................................................122 Other projects Western Libya Gas Project (WLGP).................................................................................123 Petrochemical Facilities..................................................................................................125 Oil and Gas Fields Overview of Libyan Geology............................................................................................127 Overview of Biggest Producing Fields............................................................................129 List of Other Fields...........................................................................................................132 4 Resource Transparency Opportunities Resource Transparency Movement in Libya.................................................................134 Transparency of Contracts..............................................................................................135 Extractive Industries Transparency Initiative (EITI)....................................................137 Transparency International............................................................................................139 Revenue Watch Institute (RWI)......................................................................................142 Global Witness..................................................................................................................143 Publish What You Pay (PWYP)........................................................................................144 Natural Resource Charter (NRC).....................................................................................146 5 Major oil and gas fields and infrastructure in Libya 6 List of Abbreviations AOO Akakus Oil Operations boe barrels of oil equivalent bpd barrels per day CBI Central Bank of Libya EIA US Energy Information Administration EITI Extractive Industries Transparency Initiative EOR Enhanced oil reccovery FTP Final Tender Protocol GNMTC General National Maritime Transport Company HOO Harouge Oil Operations IEA International Energy Agency IMF International Monetary Fund IOC International oil company ITP Initial Tender Protocol LFB Libyan Foreign Bank LIA Libyan Investment Authority LNG Liquefied Natural Gas LPG Liquid Petroleum Gas NOC Libyan National Oil Company MOG Mellitah Oil and Gas MOO Mabruk Oil Operations NRC Natural Resource Charter NTC National Transitional Council OPEC Organisation of Petroleum Exporting Countries PSA Production Sharing Agreement PSC Production Sharing Contract 7 PWYP Publish What You Pay RWI Revenue Watch Institute SOC Sirte Oil Company SPM Single point mooring tcf trillion cubic feet tcm trillion cubic metres TI Transparency International TSC Technical service contract TTSF Training, Technology and Scholarship Fund UN United Nations WOC Waha Oil Company ZOC Zuetina Oil Company 8 9 History and Context Libya's Oil Industry pre-1969 In 1950 a Constitution was established in Libya and King Idris declared the country's independence from the United Kingdom.1 Soon after the new Libyan kingdom was created, the UK and the United States ob- tained rights to build military bases in Libya. In 1956 the first concessions for oil ex- ploration were granted to foreign companies and in 1959 the first successful drilling was reported when Zletin oil field, one of the largest in the country, was discovered by Esso Libya.2 Libya became an oil exporter in 1961 with the completion of a 167 kilo- metre pipeline linking important oil fields in the interior to the Mediterranean Sea.3 This marked the beginning of a spectacular production rise that would surpass 3 mil- lion barrels per day (bpd) in 1969.1 With the discovery of significant oil reserves in 1959, Libya moved abruptly from being dependent on international aid and the rent from US and British air bases to being an oil-rich monarchy.4 However, equity was lacking and popular resentment grew as oil exports grew, setting the stage for the young Colonel Muammar Gaddhafi's bloodless coup d'etat in 1969.1 Libya's Oil Industry Under Gaddhafi Overthrow of the monarchy in 1969 When Libyan King Idris was overthrown in a coup led by the 27-year-old Muammar Gaddhafi, the country and its oil industry embarked upon a radically new chapter. Ac- cording to the US State Department the early years following the revolution can be seen to be divided into three recognisable political phases: 1. 1969-70: a new political and organisational model was sought to overcome the shortcomings of the preceding monarchy. 2. 1971-75: the Arab Socialist Union was established as the sole political party, based on the Nasserite Constitutional model (which came into force in Egypt in 1971, based 1 'Everything You Need To Know About The Libyan Oil Industry', Business Insider, 22 February 2011. 2 'Libya: What Happened and When ?', Libya: Our Home, retrieved 19 October 2011. 3 'History, Kingdom Established', Countries Quest, retrieved 25 October 2011. 4 'The Discovery of Oil', Encyclopaedia Britannica, retrieved 25 October 2011. 10
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