1. LIBYA OIL & GAS MARKET OVERVIEW
Bassam Drebika - United Energy Services
Tripoli, Libya

2. Agenda Libya in Figures Market Overview Oilfields Map
Offshore Activity
Current Business Opportunities
Establishing a Business in Libya
Questions & Answers

3. Libya in Figures Population : 6,310,434 GDP : 88.86 billion USD
Area : 1,759,540 km2
Population : 6,310,434
GDP : billion USD
GDP : growth 6.3%
GDP per capita (PPP) : 14,400 USD
Unemployment : 20.7%
Population below poverty line : 7.4%
Inflation : 5.8%
Exports : billion USD
Imports : billion USD
Exchange rate : Dinar/USD= 0.77
Source: The World Fact Book – Data

4. Market Overview (1)
UN Sanctions against Libya were lifted in 2003 followed by full constrains removal by mid 2006, helping Libya attract greater foreign direct investment.
Libya, in the past five years, have made progress on economic reforms as part of a broader campaign to reintegrate the country into the international fold.
Libyan economy depends primarily upon revenues from the oil sector. which contribute about 60% of public sector wages.
Libya was ranked first place, in BMI’s updated Upstream Business Environment rating, with a comfortable margin of three points:
proven oil reserves
region-topping oil reserves-to-production ratio (RPR)
good licensing terms

5. Market Overview (2)
State owned, National Oil Corporation (NOC), accounts for about half of the country’s oil and gas production and 100% of the country's refining capacity.
Libyan oil & gas licensing rounds continue to draw high international interest; NOC set a goal of nearly doubling oil production to 3 million bbl/day by 2012.
Libya still faces a long road ahead in liberalizing the socialist-oriented economy, but initial steps - including applying for WTO membership, reducing some subsidies, and announcing plans for privatization - are laying the groundwork for a transition to a more market-based economy.

6. Libya Oilfield Map & Licenses

7. Offshore Activity Exploration phase: CNPC area 17/4
Amerada area ,000 km of 2D marine seismic awarded to SCAN
Japex            area 40/3&4 - conducted 2D & 3D seismic surveys
BP  area 37, 38 & 39 - world’s largest 3D seismic acquisition and onboard
processing contracts awarded to Wavefield inseis
Drilling phase:
Nippon area 2/1&2 - wildcat well is being drilled
Petrobras        area 18 – wildcat well is being drilled by drillship Songa expected TD in Sep-09
Petramina     area 17/3 - wildcat well is being drilled
ExxonMobil        area 20, 21 & 44 - completed 2D & 3D seismic - wildcat well is being drilled.
Woodside area 35, 36, 52 and 53  - drilled 4 dry wells
Repsol                  NC 129 & NC first offshore hydrocarbons discovery
Production phase:
Eni Bouri field on Block NC 41 - production since at 70,000 b/d
Total Al Jurf field on Block C developed in 2003, producing 40,000 b/d.  

8. Establishing a Business in Libya
Using an Agent or Distributor
Establishing an Office
Representative Office
Branch Office
Entering as a Joint Venture/Joint Stock Company
Entering Libya Under the Terms of Law No. 5 of 1997 (Encouragement of Foreign Investment)

9. Thank You
For any questions or comments in regards to this presentation, please contact:
Bassam Drebika
Managing Director
United Energy Services