Top 10 Shale Oil Rich Nations - 5 - LIBYA

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Tim Haïdar

5) Libya

barbary lion
Barbary Lion

Technically recoverable shale oil: 26 billion barrels
Prime prospect locations: Tanezzuft Formation, Murzuq Basin
Current oil production (bpd): 1.48 million
Current gas production (tcf): 0.28

Libya has the 9th largest proven oil reserves in the world and is the holder of Africa’s hydrocarbon stocks at 47 billion barrels. The tumult of 2011’s regime change in the country sent oil production tumbling to barely 28 per cent of its 2010 levels.

Libya is home to the Silurian "hot shale", the most important Palaeozoic hydrocarbon source rock in North Africa and Arabia, which could produce as much as double the amount of shale oil as deposits in Mexico and Venezuela combined.