Libya: a dynamic Arab oil power
Libya has become the most dynamic oil-producing nation in the world. Less than 4 yr ago, Libya exported only peanuts, olive oil, and hides. Today, in crude-oil production Libya ranks eighth in the world, with daily production of 1.2 million bbl. Twenty-five oil companies hold concessions and have spent $1.3 billion developing reserves. Petroleum has brought new wealth to the country- an estimated $272 million in 1965. Some 2.75 million ft of hole was drilled in 1964, resulting in 97 oil fields and 4 major basins. Lost circulation has been a problem Transportation and communication are difficult in the vast Libyan desert. Water-contaminated crude and high salt content have plagued production. These problems are being solved. With 45 drillings rigs active, crude production is expected to reach 2 million bpd by 1966. Most of the rigs used are trailer-mounted, unitized 8,000-12,000 ft capacity, that have been specially adapted to work in the Sahara. The drilling-completion programs are briefly described.
- OSTI ID:
- 6669534
- Journal Information:
- World Oil; (United States), Vol. 160:7
- Country of Publication:
- United States
- Language:
- English
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