Africazine:
Libya is positioning itself as a key player in the global energy market.
At the Libya Energy & Economy Summit 2026, Chairman Masoud Suleiman of the National Oil Corporation (NOC) outlined ambitious production goals. The NOC aims to increase oil production to 1.6 million barrels daily in the first phase, with a medium-term target of 2 million barrels per day.
Libya’s Ambitious Oil Production Goals
During the summit, Suleiman emphasized the NOC’s commitment to enhancing Libya’s oil and gas production despite facing challenges such as global price fluctuations. He highlighted the corporation’s strategy to prioritize Libya’s interests, asserting its role as an independent professional institution.
The summit, held in Tripoli, features broad international participation, including representatives from major global energy companies and energy ministers. The discussions aim to foster cooperation and explore partnership opportunities in the energy sector.
Libya: Key figures on oil production
- 1.6 million barrels daily (first phase target)
- 2 million barrels per day (medium-term goal)
Infrastructure Investments to Boost Energy Capacity
The summit’s theme, “Achieving Energy Growth through Infrastructure and Investment,” underscores the importance of infrastructure investments in enhancing Libya’s energy production capacity. The NOC is actively seeking to attract international capital to support these investments.
High-level roundtable sessions are connecting Libyan officials with major American and international companies specializing in oil, gas, and energy. These sessions are designed to facilitate discussions on potential collaborations.
Next Steps for Libya’s Energy Sector
- Continue discussions on cooperation and partnerships with global energy firms.
- Focus on attracting international capital for infrastructure investments.
- Implement the first phase of the production increase strategy.
Libya is taking significant steps to enhance its oil production and attract global investment.
