In early February, Libya concluded its first post-revolution licensing round, awarding five of 20 oil and gas exploration and development blocks (MEES, 13 February). The licensing round success is the latest indicator that Libya’s oil sector is getting back on its feet after years of disruption following the 2011 revolution.
IOCs that remained in Libya despite the volatility, such as Spain’s Repsol and Austria’s OMV, are finally reporting improved results, with executives pointing to a positive outlook for the years ahead amid improved stability. (CONTINUED – 1463 WORDS)
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