PSA Reform Points To Crucial Transition

BMI View: Senior members of the Libyan NTC have revealed that production levels have now hit 1.5mn b/d and that a return to pre-war production of 1.6mn b/d by mid-2012 is a realistic possibility. A reform of the current structure of EPSAs has also been announced and will come into effect in 2015. The reform will be crucial if the country is to achieve its ambitious plan to raise production capacity to 2.2mn b/d by 2015 and 3mn b/d by 2020. However, this reform will be undertaken at the behest of an entirely new cabinet, which will emerge following the

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