Pelagian

Commentary

The PGNB is prospective but gas-prone, and there has yet to be a commercial discovery in the principal country's waters. Libya's licensing round and higher output are positives, but security risk on the Libyan side and maritime boundary issues remain. Outlook: Neutral.

Updated

October 12, 2026

Location

Description

The PGNB encompass a series of generally northwest–southeast trending horsts and grabens, created by cyclical rifting, subsidence, and post rift thermal sag, beginning in the Triassic and continuing into the Neogene. Major petroleum source rocks deposited in the PGNB reflects the deposition and maturity complexity. Silurian source rocks have been reached by drilling in the Tunisian offshore part of the PGNB and known to exist immediately to the south in the Ghadames Basin. Spatial variations in deposition and kitchen conditions has resulted in a complex pattern of source-rock thermal maturity across the PGNB. However, the extent of gas occurrence appears to be more extensive in the offshore compared to the onshore portions.

Summary

The PGNB's location (offshore, spanning the waters of three neighbouring states including Libya and Tunisia) has made explorations difficult, and the gaseous nature of the source rocks has undermined attractiveness still further.