Libya’s National Oil Corporation (NOC) has partnered with leading global energy firms, including TotalEnergies, Eni, OMV, Repsol, and Nabors, to expand the country’s oil and gas production.
The announcement was made during the Libya Energy & Economic Summit 2025, held in Tripoli.
NOC’s Technical Advisor, Bashir Garea, emphasized the country’s untapped potential.
“Libya holds 40% of Africa’s reserves, yet much of it remains undeveloped. Our discovered but undeveloped oil stands at 48 billion barrels, with a total potential of 90 billion barrels, particularly offshore.”
TotalEnergies and Eni’s strategic investments
On its part, TotalEnergies outlined its ambitious plans for Libya in 2025, focusing on onshore exploration efforts in the Sirte and Murzuq basins.
The company’s Senior Vice President for the Middle East and North Africa, Julien Pouget, stated:
“We anticipate results next week as we finalize our onshore project and further explore the Waha and Sharara fields.”
Similarly, Eni also reaffirmed its commitment to Libya’s energy sector, with Upstream Director Luca Vignati revealing the company’s plans to launch three exploration plays across shallow, deepwater, and ultra-deep offshore areas.
“No other nation offers such opportunities,” Vignati remarked, highlighting Eni’s $10 billion investment in the Greenstream gas pipeline and the development of a CO2 capture and storage facility in Mellitah.
In addition, Repsol’s Executive Managing Director of Exploration & Production, Francisco Gea, said the company’s progress in mitigating production decline and advancing exploration efforts.
“Over the past ten years, Libya has made substantial progress in combating natural field decline and promoting exploration. We have reached 340,000 barrels per day, and with collaboration, the two-million-barrel target is attainable,” Gea noted.
Meanwhile, drilling technology provider Nabors is leveraging advanced technologies to optimize production. Travis Purvis, Senior Vice President of Global Drilling Operations at Nabors, said the role of innovation in driving efficiency.
“By applying advanced technologies, we can enhance efficiency, cut costs, and improve operational safety,” Purvis said.
Moreover, NOC said it is seeking for increased investment and the adoption of cutting-edge technology to unlock its vast oil and gas reserves. Garea stated:
“With 122 trillion cubic feet of undeveloped gas, we need more investors and advanced technology to unlock this potential, especially for revitalizing brownfields.”
