By: Energy capital & power

Libya – Africa’s leading oil producer – will take center stage at the U.S.-Africa Energy Forum (USAEF) in Houston this August as the country pushes forward with an ambitious energy sector expansion. Libya’s Minister of Oil and Gas, Dr. Khalifa Rajab Abdulsadeq, is confirmed to attend, with additional companies and national entities set to join in showcasing opportunities for U.S. companies to deepen their involvement in this crucial market.

At the close of 2024, Libya’s oil production reached 1.4 million barrels per day (bpd), solidifying its position as Africa’s largest oil producer. With proven reserves of approximately 48 billion barrels, the country is set to increase production to 1.6 million bpd by the end of 2025, with a longer-term target of 2 million bpd within the next two to three years.

Libya’s strategic geographic location and crucial role in the global energy market make it an important partner for U.S. companies. As North Africa’s hub for oil and gas trade, Libya has long-standing ties with foreign operators, with American companies like ConocoPhillips, Halliburton, Baker Hughes and SLB contributing expertise and resources to support Libya’s production targets. With ongoing exploration in key regions such as the Ghadames, Sirte and Murzuq basins, U.S. firms have a unique opportunity to forge new partnerships and secure a stake in Libya’s expanding oil and gas industry. USAEF will showcase these opportunities, providing a platform for U.S. companies to strengthen and grow their presence in the country.

Libya’s upstream sector is on a strong growth trajectory, with the country’s parastatal National Oil Corporation advancing 45 greenfield and brownfield projects. These include key gas monetization initiatives, such as the $8 billion Structures A&E Project, which aims to produce 750 million cubic feet of gas per day by 2026 through two offshore fields, and the Bouri Gas Utilization Project. The Libyan government is also focused on revitalizing national infrastructure to support the energy sector, with major projects underway including the development of a new airport in Benghazi, the expansion of railways and the revival of the Sirte-Benghazi rail project. These infrastructure efforts are essential for facilitating energy sector activities and ensuring Libya remains a key player in global energy trade.

With substantial investments in upstream development, gas monetization and infrastructure, the future of Libya’s oil and gas sector looks bright. Minister Abdulsadeq’s participation at USAEF underscores the country’s commitment to forging partnerships with international investors, particularly those from the U.S., who can provide the technology, capital and expertise to support its bold energy ambitions. As Libya pushes forward with its licensing round, expands gas exports and modernizes infrastructure, U.S. firms are well-positioned to play a key role in the country’s energy future.

For tickets, sponsorship opportunities and more information, please contact sales@energycapitalpower.com. Join us in Houston this August to connect with the leaders shaping Africa’s energy landscape and experience the momentum that drives ECP’s events worldwide.