Libya Oil and Gas Upstream Market by Locations (Onshore and Offshore) and Country- Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The Libya oil and gas upstream market size is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising number of exploration projects along with increasing production of oil and gas.
Upstream is a term for operations stages in the oil and gas industry. Oil and gas companies can be divided into three segments that include upstream, midstream, and downstream. Upstream companies can involve in lifecycle of these operations of the oil and gas industry.
Upstream firms deal primarily with the exploration through extraction of resources and initial production stages of the oil and gas industry. Another name for the upstream oil sector, which is more accurate of what occurs in this stage of development of an oil asset and natural gas asset, is the exploration and production (E&P) sector. The exploration activities include creating geological surveys and obtaining land rights. The production activities include onshore and offshore drilling.
Upstream oil and gas production and operations identify deposits, drill wells, and recover raw materials from underground and are involved in the exploration and extraction. Drilling methods vary depending on type of oil or gas and the geology of the location. Many of those employed in the upstream part of the industry include geologists, geophysicists, service rig operators, engineering firms, scientists, and seismic and drilling contractors.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of reservoirs in the oil and gas industry is one of the key factors boosting the market growth.
- The emergence of new business models and services is expected to propel the market growth during the forecast period.
- Oil extraction is considerably more profitable due to its higher market price relative to the dry natural gas price, which is expected to propel the market growth during the forecast period.
- The National Oil Corporation (NOC) stated that it is planning to increase the country's oil production from the existing fields to over 2 million bpd by 2023. This, in turn, is expected to boost the market growth in the projected timeline.
- Oil and gas upstream industry is highly capital-intensive, regulated, and risk , which can hamper the market growth during the forecast period.
- Rising risk of safety and environmental issues can impede the market growth in the coming years.
- The COVID-19 pandemic had resulted in the closedown of mining facilities. This, in turn, had negatively impacted the market growth. However, the decreasing coronavirus cases is expected to stimulate the growth of the market.
- Growing R&D investment, ongoing technological advancements, and the prospects of the civil war ending in the Libya is expected to create lucrative opportunities for new entrants and emerging players during the forecast period.
Scope of the Report
The report on the Libya oil and gas upstream market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Libya Oil and Gas Upstream Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Locations (Onshore and Offshore) |
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Geographic Zone |
Libya |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
BP PLC; Eni SpA, National Oil Corporation, PJSC Gazprom, and Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) SA. |
Libya Oil and Gas Upstream Market Segment Insights
Onshore is anticipated to dominate the market
In terms of locations, the market is bifurcated into onshore and offshore. The onshore segment is expected to dominate the market share during the forecast period owing to rising number of upcoming onshore projects in the country. Oil grade is of excellent quality and requires a low level of refining maintenance and equipment during onshore exploration. The oil production in the country has increased by 1.6%, from 32.2 million metric ton in 2017 to 32.7 million metric ton in 2018. On the other hand, the offshore segment is expected to grow at a steady rate during the forecast period. Increasing government support to explore the offshores and increasing investment of major companies are anticipated to propel the growth of the market segment.
Segments
Segments Covered in the Report
The Libya oil and gas upstream market has been segmented on the basis of
Locations
- Onshore
- Offshore
Country
- Libya
Key Players
- BP PLC
- National Oil Corporation
- Eni S.P.A.
- PJSC Gazprom
- Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) SA.
Competitive Landscape
Key players competing in the Libya oil and gas upstream market include BP PLC; Eni SpA; National Oil Corporation; PJSC Gazprom; and Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) SA.
The Libyan oil and gas upstream market is moderately consolidated. Companies are engaging in partnerships and mergers to expand their market share.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil and Gas Upstream Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Oil and Gas Upstream Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Oil and Gas Upstream Market - Supply Chain
4.5. Global Oil and Gas Upstream Market Forecast
4.5.1. Oil and Gas Upstream Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Oil and Gas Upstream Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Oil and Gas Upstream Market Absolute $ Opportunity
5. Global Oil and Gas Upstream Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Oil and Gas Upstream Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Oil and Gas Upstream Demand Share Forecast, 2019-2026
6. North America Oil and Gas Upstream Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Oil and Gas Upstream Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Oil and Gas Upstream Demand Share Forecast, 2019-2026
7. Latin America Oil and Gas Upstream Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Oil and Gas Upstream Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Oil and Gas Upstream Demand Share Forecast, 2019-2026
8. Europe Oil and Gas Upstream Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Oil and Gas Upstream Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Oil and Gas Upstream Demand Share Forecast, 2019-2026
9. Asia Pacific Oil and Gas Upstream Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Oil and Gas Upstream Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Oil and Gas Upstream Demand Share Forecast, 2019-2026
10. Middle East & Africa Oil and Gas Upstream Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Oil and Gas Upstream Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Oil and Gas Upstream Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Oil and Gas Upstream Market: Market Share Analysis
11.2. Oil and Gas Upstream Distributors and Customers
11.3. Oil and Gas Upstream Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. BP PLC
11.4.2. Eni S.P.A.
11.4.3. National Oil Corporation
11.4.4. PJSC Gazprom
11.4.5. Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) SA.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil and Gas Upstream Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Oil and Gas Upstream Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Oil and Gas Upstream Market - Supply Chain
4.5. Global Oil and Gas Upstream Market Forecast
4.5.1. Oil and Gas Upstream Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Oil and Gas Upstream Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Oil and Gas Upstream Market Absolute $ Opportunity
5. Global Oil and Gas Upstream Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Oil and Gas Upstream Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Oil and Gas Upstream Demand Share Forecast, 2019-2026
6. North America Oil and Gas Upstream Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Oil and Gas Upstream Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Oil and Gas Upstream Demand Share Forecast, 2019-2026
7. Latin America Oil and Gas Upstream Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Oil and Gas Upstream Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Oil and Gas Upstream Demand Share Forecast, 2019-2026
8. Europe Oil and Gas Upstream Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Oil and Gas Upstream Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Oil and Gas Upstream Demand Share Forecast, 2019-2026
9. Asia Pacific Oil and Gas Upstream Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Oil and Gas Upstream Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Oil and Gas Upstream Demand Share Forecast, 2019-2026
10. Middle East & Africa Oil and Gas Upstream Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Oil and Gas Upstream Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Oil and Gas Upstream Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Oil and Gas Upstream Market: Market Share Analysis
11.2. Oil and Gas Upstream Distributors and Customers
11.3. Oil and Gas Upstream Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. BP PLC
11.4.2. Eni S.P.A.
11.4.3. National Oil Corporation
11.4.4. PJSC Gazprom
11.4.5. Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) SA.
Segments Covered in the Report
The Libya oil and gas upstream market has been segmented on the basis of
Locations
- Onshore
- Offshore
Country
- Libya
Key Players
- BP PLC
- National Oil Corporation
- Eni S.P.A.
- PJSC Gazprom
- Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) SA.
Key players competing in the Libya oil and gas upstream market include BP PLC; Eni SpA; National Oil Corporation; PJSC Gazprom; and Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) SA.
The Libyan oil and gas upstream market is moderately consolidated. Companies are engaging in partnerships and mergers to expand their market share.
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