$20B in Oil & Gas Investments Up for Grabs in Libya--Any Takers?

So Libya's got $20 billion in oil and gas projects for investment over the next three years, and is hoping to lure in foreign investors, though it's only barely hanging on to steady production at around 1 million bpd. Multiple groups are still vying for control of the country's oil wealth, and the NOC is cash-strapped. Will there be any takers?

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Right ... and at the same time that they're announcing this, they're moving to open up a procurement office in the U.S. (read: Libyan oil lobby). 

 

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There are always 'takers' in Libya. Everyone thinks the security environment keeps the big players away, but the opposite is really true. Libya is still (and will be for the foreseeable future) stuck between the forces of General Hafter (who essentially liberated oil after over two years of blockade) and the UN-backed administration in Tripoli (and the PM). Right in the middle is the National Oil Company, which has the dangerous job of protecting the country's oil wealth. There are plenty of opportunities in this chaos. The more chaotic, the better the opportunity (a bit cynical, but it is what it is). 

 

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There might always be takers, but security issues have kept it from realizing its potential. There might be some takers (as well as some takers-advantage), but like Nigeria, they are self-limiting.

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