North African country and Africa’s second-largest oil producer, Libya, has announced plans to increase its oil output to 1.6 million barrels per day (bpd) in 2025.
The country’s prime minister, Abdulhamid Al-Dbeibeh, made this declaration during the Libya Energy & Economic Summit (LEES) in Tripoli on Sunday.
Al-Dbeibeh noted that as of January 2025, the country had reached an oil output of 1.4 million bpd, trailing closely behind Nigeria, its fellow oil-producing counterpart.
Nigeria ended 2024 with a total production of 1.5 million bpd, according to OPEC’s secondary data, maintaining its position as Africa’s largest oil producer. However, the country continues to face challenges, including oil theft, bunkering, and pipeline vandalism, which hinder efforts to reach its 2 million bpd target.
Libya, on the other hand, has consistently increased its oil production over the past few years, rising from an average of 800,000 bpd in 2021 to about 1.2 million bpd in 2024.
Speaking on the country’s ambitious goal to further increase production in 2025, Al-Dbeibeh said:
“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.”
Reform in oil sector
Also speaking at the event, Libya’s Minister of Oil, Dr. Khalifa Abdulsadek, noted that the country’s hydrocarbon sector is undergoing critical reforms aimed at boosting production.
“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,” Abdulsadek said.
The minister further explained that achieving the 2025 production target would require an investment of $3 to $4 billion.
He stated that the government would work with its partners to secure the funding, “not just to increase production but to preserve current production rates.”
Bidding round for oil blocks to soon commence
Speaking further, the oil minister said the bidding rounds for oil blocks would soon begin for the year 2025.
Although he did not announce a specific date, Abdulsadek said the bidding round would include three basins and feature between 15 to 21 blocks.
Libya’s last bidding round for oil and gas exploration concessions took place 17 years ago, according to former National Oil Corporation (NOC) chief Farhat Bengdara. He added that 70% of Libya’s total land area and over 65% of its territorial waters remain unexplored.
Meanwhile, Bengdara resigned on Thursday and was replaced by NOC Board of Directors member Masoud Sulaiman.
