Libya reaches highest oil production in twelve years—PM

RunWithRugs · 2026-03-18T09:25:18+00:00

Libya's oil production hit a 12-year high of 1.37 million barrels per day in 2025, coinciding with significant energy summits and international exploration agreements, promising over $20 billion in investments.

RunWithRugs

2026-03-18 09:25:18

Abstract generation in progress

(MENAFN) Libya’s oil output reached its highest level in 12 years in 2025, climbing to 1.37 million barrels per day, the country’s Prime Minister Abdulhamid Dbeibah announced on Saturday.

Speaking at the opening of the Libya Energy and Economy Summit (LEES) 2026 in Tripoli, Dbeibah noted that production last year began at several oil fields, including Iravn, Mutahandush, al-Khayr, Hamada 47, and Sinawan.

He highlighted that Libya also launched its first oil and natural gas exploration licensing round in 17 years in 2025, which attracted significant interest from international energy companies. Results from the tender are expected in the second week of February.

Dbeibah said new agreements would be signed at the summit to develop two offshore natural gas fields, with deals involving Libya’s National Oil Corporation (NOC), France’s TotalEnergies, and US-based ConocoPhillips. The agreements are set to run for 25 years with investments exceeding $20 billion.

Additionally, the summit will include the signing of a memorandum of understanding with US energy company Chevron for exploration, field development, and production opportunities, as well as a cooperation agreement with Egypt covering exploration, production, and related logistics services.

MENAFN25012026000045017640ID1110646127

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes