By: Energy capital & power

Libya is making a strategic return to the global energy arena through targeted reforms, upstream expansion and infrastructure investment. As such, the country is offering some of the most promising oil and gas opportunities on the continent to maintain its spot at the top of the global energy market.

The upcoming Libya Energy & Economic Summit (LEES) 2026, set to take place in Tripoli from January 24-26, will provide a timely platform to evaluate the country’s upstream progress and investment momentum. LEES 2026 will showcase Libya’s resurgence as a competitive energy market and strategic destination for global investors, exploring bold production targets, major infrastructure upgrades and growing private sector involvement.

2025 Licensing Round

In March 2025, Libya’s Ministry of Oil and Gas, in partnership with the National Oil Corporation (NOC), launched a new licensing round – the first in over 17 years. This bid round offers a mix of offshore and onshore blocks, including assets in underexplored regions with significant geological potential. The licensing round is part of Libya’s broader strategy to attract new investment, increase exploration activity and accelerate resource development. Regulatory reforms are underway to streamline bidding procedures and improve fiscal terms, signaling a more transparent and investor-friendly approach to upstream engagement.

Production Growth

Libya has set an ambitious target to increase crude oil production to two million barrels per day (bpd) within the next three years. In December last year, the NOC announced that daily crude oil output exceeded 1.4 million barrels, representing the highest output since 2013. The government is targeting 1.6 million bpd by the end of 2025.

Optimizing Existing Fields

In addition to greenfield development, Libya is prioritizing the optimization of existing assets. Many of Libya’s mature fields hold substantial recoverable volumes but require modernization and enhanced oil recovery solutions to boost output. Recent rehabilitation programs by companies like Waha Oil Company and Mellitah Oil & Gas are breathing new life into legacy infrastructure. These efforts include the deployment of advanced technologies, well stimulation programs and upgrades to gathering systems and processing facilities – creating a strong case for technical service providers and oilfield technology firms.

Private Sector Investment

Private sector involvement in Libya’s energy sector is gaining momentum, with government authorities actively encouraging new foreign partnerships. The NOC has announced several joint venture initiatives and technical service contracts with regional and global players – including Mellitah Oil & Gas, Nafusah Oil Operations, Eni, OMV, Repsol, TotalEnergies, bp, Equinor and Sonatrach – opening doors for capital, expertise and innovation.

In parallel, Libya is taking steps to strengthen regulatory oversight and operational transparency. These reforms are designed to reduce bureaucratic barriers, mitigate risk and create a more secure environment for private investors across the energy value chain.

Infrastructure Development

Libya is making substantial progress on offshore infrastructure, reinforcing its position as a key player in the global energy market. Eni’s Structures A&E Project is a cornerstone initiative that will transport gas from two offshore fields to the Mellitah complex for processing. Engineering and construction on the Structure A platform is already underway, with offshore drilling scheduled to commence in the first half of 2025.

Meanwhile, the Sabratha Compression Project is in the execution phase and is expected to come online later this year, increasing efficiency and throughput. Additionally, energy and marine consultancy group ABL was recently contracted to support service firm Saipem in managing the installation of critical infrastructure for the Bouri Gas Utilization Project – a strategic development that will significantly expand offshore production capacity and drive forward the exploitation of Libya’s vast natural gas reserves.

Join industry leaders at the Libya Energy & Economic Summit 2026 in Tripoli and explore investment opportunities in one of North Africa’s most dynamic energy markets. LEES 2026 offers a premier platform for partnerships, innovation and sector growth. Visit www.libyasummit.com to secure your participation. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.