Wood Mackenzie recently undertook an analysis of Libya, attempting to discern how long it could take for a recovery of oil and gas production. One of the key issues in this respect is how quickly the National Transitional Council (NTC) can stabilize the security situation across the country. Regardless, it is too early to expect a material recovery in Libya's oil and gas production."Once a resolution is reached, we believe it will take around 36 months for oil production to recover to the pre-conflict level of 1.6 million bpd," said Ross Cassidy, a research analyst for Wood Mackenzie. "It may be possible, however, for up to 600,000 bpd to be restored within three months assuming a swift end to hostilities, and an early focus by the NTC and international community on stability and infrastructure repair."
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