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European Union (EU)-funded Project EU4PSL for Private Sector Development in Libya Presents Results

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EU4PSL

An online portal to simplify the establishment of businesses, step-by-step guides for new entrepreneurs, business acceleration programmes and start-up grants for 90 young Libyan entrepreneurs, and a new link between the private sector and Libyan universities are among EU4PSL’s most important achievements since 2019. “E-NABLE”, a €5 million EU-funded follow-up programme, will continue to support private sector diversification, digitalization and financial solutions for businesses in Libya

TRIPOLI, Libya, December 8, 2022/APO Group/ — 

The European Union’s (bit.ly/3uCHRgC) EU4PSL project in support of private sector development in Libya presented its results in Tripoli. Over the past three years, the project contributed to a better business environment, and new job opportunities across Libya, in particular for the youth and women. In a closing ceremony in Tripoli, the EU and its EU4PSL implementing partner Expertise France (ExpertiseFrance.fr), presented key results to key stakeholders and beneficiaries.

“Today, we celebrate the conclusion of the European program to support the private sector in Libya, and we all know that Libya has progressed towards economic development through its private sector. I thank the European Union Delegation, Expertise France and the Libyan experts in all sectors for their contribution to reaching the program’s goals. I stress the keenness and desire of the Ministry of Economy and Trade to continue working together for economic recovery, diversification and the development of Libyan competencies,” said Mohammed Al-Huweij, Minister of Economy and Trade in Libya.

“The private sector is a crucial driver for innovation, new jobs and economic growth in Libya. This is why it is important to create an enabling business environment, encourage entrepreneurship and ensure favourable conditions for innovation, investment and trade. In Libya, the private sector needs new skills, instruments and opportunities to turn ideas into successful business ventures. With EU4PSL we were able to create new platforms to simplify access to economic institutions and to boost start-ups and young entrepreneurs,” said Francesca Cuccia, Programme Manager at the EU Delegation to Libya. “The EU will continue its support to Libya’s private sector also in the future.”

“EU4PSL, is for us a flagship project that shows the relevance of supporting the development of the private sector in Libya. All the great achievements underline the full engagement of all the implicated Libyan stakeholders participating to a more efficient and supportive business environment, key for the private sector harmonious development” said Julien Schmitt, Country representative and programs director at Expertise France in Libya. “On behalf of Expertise France, we are very honoured for the trust of our national and international partners and we want to reaffirm once again our commitment to continue to support the economic development of Libya.”

Better institutional services and easy access to support for businesses

EU4PSL worked with the Ministry of Economy and Trade, chambers of commerce and other economic institutions to help create a supportive business environment in Libya.

A new online portal called eJraat (ejraat.gov.ly) simplifies business creation procedures and provides a step-by-step guide to administrative procedures and was launched in partnership with the United Nations Conference on Trade and Development (UNCTAD) (UNCTAD.org). The involved stakeholders are now taking it a step further by working with the General Commercial Registry on creating a single online window for business registration and other business services.

In partnership with the International Trade Centre (ITC), (InTraCen.org) Libya was integrated in the Euromed Trade Help Desk (bit.ly/3iPCc4d) portal for facilitating trade and investment in the EU and the Mediterranean region.

EU4PSL worked with the Chambers of Commerce and General Union of Chambers of Commerce to develop their advisory and advocacy functions. A large national survey (bit.ly/3FziC4S) identified the profiles and needs of Libyan enterprises in terms of business knowledge and support services, along with operational recommendations to help the government and international donors better shape their economic support to Libya.

The first Chambers of Commerce White Book lists the top common reform priorities identified by Libyan enterprises owners and managers with concrete proposals for improvement.

With EU4PSL we were able to create new platforms to simplify access to economic institutions and to boost start-ups and young entrepreneurs

Economic empowerment of women and youth

In partnership with local CSOs, EU4PSL held three national women entrepreneurs contests in which €120,000 of grants were disbursed to 36 winners; more than 90 jobs were created as a result of the development of the winning businesses.

The involved CSOs have also teamed up with universities to organise entrepreneurship training boot camps that were delivered to 360 of their students. Top innovative ideas were then selected to participate in 3 national student contests receiving significant financial awards from local sponsors.

A 6-month business acceleration program called Boost it mentored 19 emerging start-ups from 6 different Libyan cities. The participating start-ups received €153,000 in financial support. 84.6 % of them reported an increase in their revenue.

Improved access to finance for MSMEs and start-ups

EU4PSL worked with the Central Bank of Libya and several other financial institutions to support Libyan MSMEs to access finance.

With the support of the leading financial institution Adie France (Adie.org), two microfinance circulars were published by the Central Bank of Libya demanding banks to dedicate 10% of their portfolio to SMEs and adapt their services to meet the needs of micro and small enterprises, thus creating new fund-raising vehicles for business owners.

Six units dedicated to SMEs support were established within Libyan banks and Tadawul Group (bit.ly/3W1CoeR) supported to establish a Venture Capital fund to provide means of financing and investment for the start-up eco-system in Libya.

Entrepreneurship streamlined within education curricula

EU4PSL, together with Lyon 3 university (bit.ly/3Y4Dmc2), developed an accredited entrepreneurship module that is now being taught at 9 Libyan universities. The delivery of this module was made possible by training and coaching 44 professors across the country with the support of the South Mediterranean University (SMU) (SMU.tn) in Tunis.

Entrepreneurship and Innovation units were also created within 11 universities. The staff of these units were coached on how to run practical incubation programmes to support undergraduate students to upgrade their skills and begin their careers.
Eight Junior initiatives (Juniorenterprises.org) were created inside partner universities promoting entrepreneurial skills among students and closing the gap between their academic studies and the labour market.

EU4PSL has also initiated work with the Ministry of Higher Education and Scientific Research on a national roadmap for supporting entrepreneurship within higher educational institutions and bridging the gap between graduates and the labour market in collaboration with the Mediterranean Universities Union (UNIMED) (UNI-MED.net).

After the successful completion of the EU4PSL (2019-2022) and its preceding project, SLEISDE (2016 -2020), the European Union will continue to support private sector and economic development in Libya through the E-NABLE (E-NABLE.ly) project (2022-2025), implemented by Expertise France. E-NABLE will focus on economic diversity, sustainability, and digital governance in Libya.

Distributed by APO Group on behalf of Expertise France.

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Genesis Energy Chief Executive Officer (CEO) to Discuss Energy Expansion at Congo Energy & Investment Forum

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28 minutes ago

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January 20, 2025

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Genesis Energy

Akinwole Omoboriowo II will discuss Genesis Energy’s plan to deliver 10.5 GW of power across Africa, highlighting how Nigeria’s power sector experience can inform the development of the Republic of Congo’s domestic energy grid and gas export potential

BRAZZAVILLE, Republic of the Congo, January 20, 2025/APO Group/ — 

Akinwole Omoboriowo II, CEO of Genesis Energy, will speak at the Congo Energy & Investment Forum (CEIF) in Brazzaville this March, where he will discuss the company’s plans to deliver 10.5 GW of power across Africa, with a focus on energy initiatives that align with the Republic of Congo’s energy development goals.

Genesis Energy is driving transformational power projects, including providing 334MW to the Port Harcourt Refinery in Nigeria and plans to produce 1 GW within the WAEMU region. In October 2024, Genesis and BPA Komani announced their strategic partnership to mobilize capital and facilitate critical infrastructure projects focused on renewable energy, particularly Battery Energy Storage Systems across Africa. Additionally, Genesis’ recent MOU with the U.S. Agency for International Development will mobilize $10 billion for green energy and renewable projects, supporting Africa’s transition to a sustainable energy future.

The inaugural Congo Economic and Investment Forum, set for March 25-26, 2025 in Brazzaville, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

During CEIF 2025, Omoboriowo will explore how Genesis’ successful energy infrastructure development projects in Africa, combined with private sector innovation, can guide the Republic of Congo in strengthening its energy security and achieving its decarbonization goals. By leveraging its expertise in clean energy and strategic partnerships, Genesis Energy is poised to play a key role in helping the Republic of Congo harness its energy potential and expand its regional energy influence.

The Republic of Congo’s renewable energy sector is in a phase of growth, with increasing interest in solar, hydro and wind energy projects. Battery energy storage capacities are also gaining traction as a vital component of the country’s energy infrastructure, helping to balance supply and demand. The government is focusing on diversifying its energy mix to reduce dependency on fossil fuels and enhance grid reliability. Looking ahead, the Congo aims to expand its renewable energy capacity and integrate storage solutions to meet growing domestic and regional energy needs while supporting environmental sustainability.

Distributed by APO Group on behalf of Energy Capital & Power.

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Eni, TotalEnergies Announce New Exploration Projects in Libya

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7 hours ago

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January 20, 2025

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National Oil Corporation

Eni is launching three exploration plays, TotalEnergies is expecting promising results from its recent onshore exploration project, and other developments were shared during an upstream IOC-led panel at the Libya Energy & Economic Summit

TRIPOLI, Libya, January 19, 2025/APO Group/ — 

Libya’s National Oil Corporation (NOC) and international energy companies TotalEnergies, Eni, OMV, Repsol and Nabors outlined key exploration milestones and strategies to advance oil and gas production in Libya at the Libya Energy & Economic Summit 2025 on January 18.

Among the key developments highlighted were TotalEnergies’ recent onshore exploration project and promising exploration opportunities in the Sirte and Murzuq basins.

“With 40% of Africa’s reserves, Libya remains largely untapped,” said Julien Pouget, Senior Vice President for the Middle East and North Africa at TotalEnergies. Pouget shared TotalEnergies’ plans for 2025, including the completion of an onshore exploration project and new exploration in the Waha and Sharara fields. “We expect results next week,” he added.

Luca Vignati, Upstream Director at Eni, echoed optimism for Libya’s potential and outlined the company’s ongoing investment initiatives in the country. “We are launching three exploration plays – shallow, deepwater and ultra-deep offshore. No other country offers such opportunities,” Vignati stated. He also highlighted the company’s investments in gas projects, including over $10 billion for the Greenstream gas pipeline and a CO2 capture and storage plant in Mellitah.

Repsol affirmed its commitment to advancing exploration in Libya, focusing on overcoming industry challenges and achieving significant production milestones.

We have 48 billion barrels of discovered but unexploited oil, with total potential estimated at 90 billion barrels, especially offshore

“Over the past decade, Libya has made remarkable efforts to fight natural field decline and encourage exploration,” said Francisco Gea, Executive Managing Director, Exploration & Production at Repsol. “We have reached 340,000 barrels per day. The two million target is within reach, and as international companies, we have the responsibility to bring capacity and technology.”

“Innovation is key to maximizing production and accelerating exploration. By deploying cutting-edge solutions, Nabors can enhance efficiency, reduce costs and ensure safer operations,” added Travis Purvis, Senior Vice President of Global Drilling Operations at Nabors.

Bashir Garea, Technical Advisor to the Chairman of the NOC, highlighted the country’s immense oil and gas potential. “We have 48 billion barrels of discovered but unexploited oil, with total potential estimated at 90 billion barrels, especially offshore,” he said. He also pointed to Libya’s sizable gas reserves, noting, “Libya has 122 trillion cubic feet of gas yet to be developed. To unlock this potential, we need more investors and new technology, particularly for brownfield revitalization.”

“Our strategy spans the entire value chain. Strengthening infrastructure is essential to maximizing production and efficiency,” said Hisham Najah, General Manager of the NOC’s Investment & Owners Committees Department.

NJ Ayuk, Executive Chairman of the African Energy Chamber and session moderator, underlined Libya as a prime destination for foreign investment: “Libya is at the cusp of a new energy era. The time for bold investments and strategic partnerships is now.”

Distributed by APO Group on behalf of Energy Capital & Power.

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Libya’s Oil Minister: Brownfields, Local Investment Key to 2M Barrels Per Day (BPD) Production

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January 20, 2025

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Libya’s Oil & Gas Minister outlined plans to boost production to 1.6 million bpd in 2025 and 2 million bpd long-term, with brownfield development and local investment at the core, during the Libya Energy & Economic Summit

TRIPOLI, Libya, January 19, 2025/APO Group/ — 

Libya is setting its sights on boosting oil production to 2 million barrels per day (bpd) within the next two to three years, with brownfield development and local investment identified as critical drivers of this growth. Speaking at the Libya Energy & Economic Summit (LEES) in Tripoli on Saturday, Minister of Oil and Gas Dr. Khalifa Abdulsadek outlined the country’s strategy to reach 1.6 million bpd by year-end and laid the groundwork for longer-term growth.

“There are massive opportunities here, massive fields that have been discovered, but a lot of fields have fallen between the cracks,” stated Minister Abdulsadek during the Ministerial Panel, Global Energy Alliance – Uniting for a Secure and Sustainable Energy Future. “We want to make sure local oil companies take part. We also want to leverage the upcoming licensing round to support our planned growth in the oil sector.”

The minister’s remarks were complemented by a strong call for international participation in Libya’s upcoming licensing round, signaling the government’s commitment to fostering collaboration and maximizing the potential of its energy sector.

Highlighting Libya’s vast natural gas potential – with reserves of 1.5 trillion cubic meters – Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum, stressed the need for enhanced investment in gas projects. He pointed to ongoing initiatives like the $600 million El Sharara refinery as opportunities to stimulate economic diversification.

There are massive opportunities here, massive fields that have been discovered, but a lot of fields have fallen between the cracks

“Natural gas is available,” Hamel stated, adding, “It is the greenest of hydrocarbons and we see natural gas continuing to grow until 2050.”

The panel also tackled the global energy transition, emphasizing Africa’s unique challenges and the need for the continent to harness its resources to achieve energy security. Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), underscored the critical need for finance, technology and reliable markets to drive progress.

“At APPO, we have noted three specific challenges for the African continent. Finance, technology and reliable markets,” he stated, questioning whether Africa can continue to depend on external forces to develop its resources.

As one of Africa’s top oil producers, Libya holds an estimated 48 billion barrels of proven oil reserves. The country’s efforts to expand production, attract investment and drive innovation are central to the discussions at LEES 2025. Endorsed by the Ministry of Oil and Gas and National Oil Corporation, the summit has established itself as the leading platform for driving Libya’s energy transformation and exploring its impact on global markets.

Distributed by APO Group on behalf of Energy Capital & Power.

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