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.

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.

Prime Minister Abdulhamid Al-Dbeibeh, Minister of Oil and Gas Dr. Khalifa Abdulsadek, NOC Acting Chairman Massoud M. Suleman, and OPEC Secretary General Haitham Al Ghais headlined the Libya Energy & Economic Summit, emphasizing international collaboration and Libya’s growing energy influence

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

The third edition of the Libya Energy & Economic Summit (LEES) has officially opened, delivering a powerful call for investment to bolster the country’s oil and gas sector. With a goal of reaching 1.6 million barrels per day (bpd) by the end of the year, the summit highlighted Libya’s commitment to stabilizing its energy industry, fostering international partnerships and advancing regulatory and sustainability initiatives.

The summit was inaugurated by the Prime Minister of Libya, Abdulhamid Al-Dbeibeh, who highlighted the nation’s achievements and ambitions: “We started in 2021 with 800,000 bpd. As of January 2025, Libya has achieved 1.4 million bpd, reflecting our dedication to ensuring stability in the oil and gas industry. The government is eager to reinvest sector revenues into further improvements, aiming to reach 1.6 million bpd.”

He also emphasized the government’s broader energy vision, stating, “Our commitment extends beyond hydrocarbons to include environmental initiatives and decarbonization efforts, such as planting one million trees.”

In a keynote address, Dr. Khalifa Abdulsadek, Minister of Oil & Gas of Libya, laid out the government’s strategic roadmap for revitalizing the national hydrocarbon sector. “Libya, with its strategic position and abundant resources, has the potential to be a leader in global energy development. To reduce carbon emissions and increase gas exports, we are strengthening and expanding international partnerships,” he remarked.

As of January 2025, Libya has achieved 1.4 million bpd, reflecting our dedication to ensuring stability in the oil and gas industry

Building on this momentum, Massoud M. Suleman, Acting Chairman of Libya’s National Oil Corporation (NOC), outlined the company’s ambitious strategy to enhance production, attract investment and drive innovation in the sector. “After reaching 1.4 million bpd, we have integrated cutting-edge technologies to drive our vision forward. This progress has facilitated the return of international airlines to Libya and strengthened our partnerships with foreign investors. A thriving energy sector has created a favorable business environment, enabling us to collaborate effectively with contractors and attract new partners,” said Suleman.

He further noted that the NOC is undergoing structural reforms to align with long-term sector goals. “For the second consecutive year, we are working with Deloitte to enhance transparency and unlock further opportunities in oil and gas. Our strategy is meticulous – not only focusing on oil and gas extraction, but also incorporating renewable energy projects to help us achieve our net-zero carbon target.”

Adding a global perspective, Haitham Al Ghais, Secretary General of OPEC, addressed the summit for the first time, underscoring Libya’s critical role within OPEC and the global energy landscape. “Libya continues to play a great role in OPEC and in the global oil and gas market. Everything that happens in Libya has an impact on the market,” Al Ghais remarked.

He also emphasized the importance of ongoing investment in hydrocarbons during the energy transition, stating, “Preemptive decisions and cautious measures have been taken by OPEC+. We have a long-term strategic vision, aiming to increase our total production from 24% to 50%.”

LEES 2025 serves as a platform for Libya’s energy leaders to showcase the country’s progress and potential, while fostering dialogue with global partners. With Libya’s energy sector at the center of global attention, the summit highlights the nation’s determination to not only secure its energy future, but also contribute meaningfully to the global energy landscape.

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