Panel Discussion - Challenges in Exploration Activities and Carbonate remaining Hydrocarbon Potentiality

Date: Tuesday, May 7, 2024

Time: 1:30 PM - 2:30 PM

Libya presents an appealing investment opportunity for companies seeking oil and gas reserves and the potential for significant profits. Ranked fourth in Africa and19th globally in proven natural gas reserves, Libya stands as the world's most enduring reserve, making it an attractive choice for investors seeking high returns.The country has a rich production history in the oil and gas industry, and its existing infrastructure reduces upfront investment costs and expedites production activities, further enhancing its appeal to potential investors. Recent progress towards stability is viewed positively by oil companies, and the Libyan government has introduced tax incentives and favorable production-sharing agreements to encourage investment in the sector.

With proven oil and gas fields and the possibility of new discoveries, Libya offers an attractive prospect for investment. The country benefits from a skilled and experienced local workforce in the oil and gas sector, providing valuable expertise for exploration and production activities. Additionally, Libya enjoys convenient access to international markets, including Europe, making it an appealing investment destination due to reduced transportation costs. The advancement of technology and exploration techniques holds the potential to attract more investors and unlock additional reserves in Libya.

Moreover, Libya's abundant hydrocarbon and renewable resources position it for a promising future. This aspect further highlights Libya as a promising market with substantial potential. By effectively tackling challenges and capitalizing on its strengths, Libya can transform into a primary destination for investment in the oil and gas industry.

The panel aims to encourage international companies to return to exploration activities in Libya by bringing together industry experts and researchers to provide a platform for knowledge exchange and cooperation, including developing strategies to overcome challenges and exploit the remaining hydrocarbon potential in carbonate reservoirs in Libya.