Libya started its oil exploration in 1955 and now Libya is Africa's major oil producer and one of Europe's biggest North African oil suppliers. Oil exports make up between 75% and 90% of state revenues and provide high quality, low cost crude oil products.

Managed and owned by the National Oil Corporation (NOC) the oil and gas industry has been engaged with numerous foreign exploration and production companies since 1979 with a common aim to increase production and attract foreign investment.

Largely untapped, Libya still has around 70% of its geographical area not covered by exploration and production agreements, leaving excellent potential for more oil discoveries.

LBS can help bring new business opportunities to oil & utilty companies and service organisations looking to gain a foothold into Libya. Giving UK based organisations access to small, medium and large sized business opportunities, LBS select potential suppliers for our Libyan based clients, provide the RFI, manage the initial introductions and support the procurement process throughout.