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Libya Construction Industry 2012

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Libya Construction Industry 2012 February 2012 www.ventures-me.com February 2012 1. Libya- The Political Economy till 2011 and Beyond .................................................................................... 4 PESTLE Analysis of Libya Construction Sector ............................................................................................ 7 2. Libya Hydrocarbon Industry Overview....................................................................................................... 9 Libya Oil and Gas Resource Endowments .................................................................................................. 9 Oil Production, Consumption and Reserves ............................................................................................. 10 Production, Consumption, Reserves for Natural Gas ............................................................................... 13 Liquefied Natural Gas (LNG) .................................................................................................................... 14 Oil and gas Regulatory Environment ....................................................................................................... 18 Key Ongoing Projects in Libya’s Hydrocarbons Sector ............................................................................. 24 Major Players in Libya Hydrocarbons Sector ........................................................................................... 24 3. Libya Infrastructure Sector ...................................................................................................................... 26 Key Ongoing Projects in Libya’s Infrastructure Sector .............................................................................. 30 Major Players in Libya Infrastructure Sector ............................................................................................ 30 4. Libya Power and Water sector ................................................................................................................ 32 Key Ongoing Projects in Libya’s Power and Water Sector ........................................................................ 35 Major Players in Libya Power and Water Sector ...................................................................................... 37 5. Libya Buildings Sector Overview .............................................................................................................. 38 Key Ongoing Projects in Libya’s Buildings Sector ..................................................................................... 41 Major Players in Libya Buildings Sector ................................................................................................... 42 6. Scenario Analysis and Future Outlook for the Libya Construction ............................................................ 44 Methodology .............................................................................................................................................. 47 Code of Ethics ............................................................................................................................................. 47 Ventures Onsite MENA Projects Database .................................................................................................. 48 Figure 1: PESTLE Analysis - Libya Construction industry ................................................................................. 7 www.ventures-me.com P a g e : 2 February 2012 Figure 2: Libya Oil Production and Oil Consumption (Thousand barrels per day), 2005-2010 ...................... 12 Figure 3: Libya Natural Gas Production and Consumption (BcM), 2005-2010 .............................................. 13 Figure 4: Production Share of Key Upstream players ................................................................................... 20 Table 1: Libya Macroeconomic Indicators, 2010 ............................................................................................ 6 Table 2: Libya Oil and Gas Statistics 2010 ...................................................................................................... 9 Table 3: Key Oil and Gas Players in Libya ..................................................................................................... 21 Table 4: Libya Oil & Gas Projects, 2012 ....................................................................................................... 24 Table 5: Libya Infrastructure Projects, 2012 ................................................................................................ 30 Table 6: Libya Power & Water Projects, 2012 .............................................................................................. 35 Table 7: Libya Buildings Projects, 2012 ........................................................................................................ 41 Table 8: Scenario Analysis for Libya Construction Industry and Impact on its Key Sectors, 2013.................. 45 www.ventures-me.com P a g e : 3 February 2012 Table 1: Libya Macroeconomic Indicators, 2010 Surface Area (Square Kilometres) 1,759,540 GDP (US$ Billion) 90.57 GDP Growth (%) 4.2% Population (2011 estimates) 6,597,960 GDP per capita (US$) 40,300 Inflation (%) 2.5% Exchange Rate (per US$) 1.2648 Libyan Dinars (LYD) Labour Force 1.728 Million Budget Surplus/Deficit (% of GDP) 4.4% GDP Shares By Sector Agriculture: 2.7% Industry: 66.7% Services: 30.5% Source: CIA- The World Factbook 2011 (All statistics unless mentioned are 2010 Estimates) A budding Libyan Democratic Republic, with luck, political acumen and lucrative oil revenues, could form part of a new arc of stability across North Africa. Given the large under explored Oil reserves in the nation, Libya spells a positive and more bountiful era for foreign companies and investors. War-torn Libya’s oil output is vital to the global economy and there are many ways to get investment exposure. Oil markets are often in a state of fluctuation, and any variations in either the supply or demand side of the equation — however small — can have an outsized effect on global prices. Libya is an exceptional example of how an important oil producer can have a large impact on oil prices worldwide. While Libya isn’t the most significant oil player in the world, it is large enough that any disruptions result in a direct outcome on global prices. At present Libya have reserves of 46 billion barrels of crude, making it the largest holder of oil in Africa and the ninth-largest worldwide. During the unrest that engulfed the country for much of the second and third quarters of 2011, Libyan oil output nose-dived from 1.3 million barrels a day to 10,000 barrels a day in August 2011 during the worst phase of the conflict. www.ventures-me.com P a g e : 6 February 2012 Libya’s oil and gas exploration and production activities are being carried out by the National Oil Corporation’s (NOC) subsidiary companies, wholly owned by NOC, and other global oil companies licensed by special participation and sharing agreements. These activities cover wide areas, both onshore and offshore, throughout the Country’s territorial waters and continental shelf. Its strategic geographical placing on the Mediterranean coast makes Libya’s oil products easily reachable to one of the world’s main consumer markets, - the European market, of close to half a billion consumers. Furthermore, Libya has a network of onshore oil, gas and product pipelines as well as completely equipped crude oil export facilities in addition to a gas pipeline connecting Libya to the European market through Italy; this established infrastructure provides investors with great rewards in both. According to the 2011 BP Statistical Energy Survey; Libya had total proven oil reserves of 46.4 billion barrels or 3.4% of the world reserves at the end of 2010. About 80% of Libya’s proven oil reserves are located in the Sirte basin, which is responsible for 90% of the country’s oil output. Table 2: Libya Oil and Gas Statistics 2010 Libya Oil Statistics 2010 Libya Natural gas Statistics 2010 Proven Oil reserves (1000 46.4 Proven gas reserves 1.5 Mn bbl) (TcM) Production (1000 bbl/d) 1659 Production (BcM) 15.9 Consumption (1000 270 Consumption (BcM) 6.01 bbl/d) Refining capacity (1000 380 bbl/d) Source: BP Statistical Review of World Energy - June 2011 Libya expects to increase oil reserve estimates with incentives for additional exploration in both established oil producing areas as well as more remote parts of the country. Recent increases in foreign investment have begun to slow as a result of reservations stemming from OPEC quotas, infrastructure constraints, and contract renegotiations. www.ventures-me.com P a g e : 9 February 2012 Resource and skills rich economy-No dearth of finance High World Corruption ranking-Corruption among the and skilled manpower as Libya boasts one of the largest highest in the world and bureaucracy and red tape a literacy rates in the world and a strong oil wealth main challenge for investors in the infrastructure sector backed economy Strong demand base-Availability of a strong demand Slow pace of reorganization post overthrow of Gaddafi- base owing to a young growing and affluent population. Unfreezing of foreign assets has led to locking up of a lot of funds and projects which are likely to delay investment plans in the infrastructure sector High degree of regulation and interference and limited private sector role and independence-Role of private sector as yet limited and all forms of private participation strictly
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