As of the end of 2015, production in Libya remains substantially shut-in given the political unrest. The timing of a return to normal operations remains uncertain.
The Exploration & Production business at Suncor has significant onshore acreage holdings in Libya, held via Exploration and Production Sharing Agreements (EPSAs).
These EPSAs could provide access to significant production over the next 25 years, access to low-cost production growth opportunities through the redevelopment of existing fields, as well as opportunities to explore in the prolific Sirte Basin.
Exploration in Libya was put on hold in 2011 when Suncor entered force majeure status due to civil unrest. The period of force majeure under its contractual obligations has since ended in Libya, and Suncor has restarted exploration activities.
Harouge Oil Operations is a joint venture that Suncor has a 49% working interest in. Production in Libya continues to be impacted by political unrest, with the timing of a return to normal operations remaining uncertain.
Please visit the archives on Suncor Response for more details about the company’s actions regarding Libya in 2011 and early 2012.