Masoud M. Suleman, the Chairman of Libya’s state-owned National Oil Corporation (NOC), is set to speak at the Libya Energy & Economic Summit (LEES) 2026, taking place from January 24-26, 2026, in Tripoli. This summit will gather national and international energy stakeholders, including major operators like bp, Eni, Shell, Chevron, and TotalEnergies, to discuss strategies aimed at enhancing Libya’s oil and gas sector.
The upcoming summit is a significant event for Libya’s energy landscape, focusing on production growth, infrastructure investment, and energy transition initiatives. It represents an opportunity for collaboration among key players in the energy sector.
- Masoud M. Suleman will be a keynote speaker at LEES 2026.
- The summit will occur from January 24-26, 2026, in Tripoli.
- Libya’s oil production has stabilized at 1.38-1.4 million barrels per day.
- The NOC aims to achieve 2 million barrels per day within three to five years.
- Infrastructure investments of -4 billion are planned for 2026.
- Environmental strategies include reducing gas flaring by 120 million cubic feet per day.
Under the leadership of Chairman Suleman, the NOC is undergoing a strategic revitalization of Libya’s oil sector. As of early January 2026, the country’s oil production has stabilized, with a target of reaching 1.6 million barrels per day by the end of the year. The NOC has ambitious plans to increase production to 2 million barrels per day within three to five years, contingent on stable funding and security conditions. In 2025, Libya’s oil revenues were reported at .26 billion, reflecting resilience in the face of fluctuating global prices.
A key focus for 2026 is the completion of the first competitive licensing round in 18 years, which includes 22 blocks—11 onshore and 11 offshore. Offshore exploration remains a priority, with bp and Eni, in collaboration with the Libyan Investment Authority, preparing to drill an exploratory deepwater well in the Sirte Basin. These exploration efforts are supported by significant infrastructure investment plans, with the NOC estimating that -4 billion will be necessary in 2026 to modernize aging pipelines and enhance operational efficiency.
Domestic refining and petrochemicals are also critical components of the NOC’s strategy. Zallaf Libya, a subsidiary of the NOC, is advancing the construction of a 30,000-barrel-per-day refinery in Ubari to meet local fuel demands and reduce imports. Additionally, the Ras Lanuf ethylene plant and a second methanol plant at Sirte Oil Company have recently resumed operations, bolstering Libya’s refining and downstream capacity.
Environmental strategies are integral to the NOC’s sustainable growth plans. For 2026, the NOC aims to reduce gas flaring by 120 million cubic feet per day, redirecting previously flared gas to stabilize the national power grid and support domestic energy needs. Structural reforms initiated after Suleman’s appointment as Chairman in October 2025 focus on enhancing governance, transparency, and audit practices across all subsidiaries.
LEES 2026 presents a unique opportunity for industry leaders to engage in discussions about investment opportunities in Libya’s dynamic energy market. Participants can explore partnerships and innovations that will drive sector growth. For more information on participation, visit www.LibyaSummit.com.
