Market opportunities
Major market opportunities exist in:
- Oil - to achieve its production targets Libya will invest heavily in: exploration, new field development, drilling and downhole technology, EOR / IOR, production/pressure maintenance technology.
- Gas – the December 2007 bidding round for investment in gas exploration highlighted Libya’s plans for upgrading its relatively undeveloped natural gas reserves. Significant investment is also being made to expand the country’s LNG capacity from 0.7 million tons per annum (mtpa) to 3.2 mtpa by 2010.
- Refining and petrochemicals – Libya is working on the upgrade and expansion of all its refineries which serve both the domestic and export markets. NOC has estimated that its plans will require the expenditure of at least US$8 billion on refineries and the development of petrochemical plant to produce polypropylene, butadiene, benzene and high- and low-density polyethylene.
- Pipelines – with a network of over 9,500 km of pipelines already in place a ready market exists for the supply of maintenance services, corrosion prevention, pigging and instrumentation. New field development is already calling for 650km of new pipeline projects offering opportunities for engineering, procurement and construction contractors.
- Training – more than 80% of Libya’s budget for education and training is spent in the petroleum sector. Major opportunities exist for providers of training services and facilities as Libya develops its own human resource potential.
If your company supplies products or services applicable to any of these sectors, participation in OIL & GAS LIBYA will bring you face-to-face with the decision makers in Libya’s rapidly expanding petroleum sector.
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