Libya’s National Oil Corporation (NOC) and global energy companies TotalEnergies, Eni, OMV, Repsol, and Nabors unveiled ambitious strategies to enhance oil and gas production during the Libya Energy & Economic Summit 2025, held on January 18.
TotalEnergies highlighted its exploration progress in Libya’s Sirte and Murzuq basins.
“Libya holds 40% of Africa’s reserves, yet much remains untapped,” stated Julien Pouget, Senior Vice President for the Middle East and North Africa.
The company plans to finalize an onshore project in 2025 and continue exploration in the Waha and Sharara fields, with results anticipated soon.
Eni’s Upstream Director, Luca Vignati, underscored Libya’s unique opportunities in offshore exploration, announcing plans to launch three plays spanning shallow, deepwater, and ultra-deep areas.
“No other nation offers such opportunities,” Vignati noted, highlighting Eni’s $10 billion investment in the Greenstream gas pipeline and its plans for a CO₂ capture and storage facility in Mellitah.
Repsol reaffirmed its commitment to advancing exploration despite operational challenges.
“Libya has made significant progress over the last decade in combating natural field decline and promoting exploration,” said Francisco Gea, Executive Managing Director of Exploration & Production. The company has reached 340,000 barrels per day and envisions achieving a two-million-barrel target through collaboration.
Nabors emphasized the importance of advanced technology in maximizing production and accelerating exploration efforts.
“By applying cutting-edge technologies, we can enhance efficiency, reduce costs, and improve safety,” said Travis Purvis, Senior Vice President of Global Drilling Operations.
Bashir Garea, Technical Advisor to the NOC Chairman, highlighted Libya’s vast oil and gas reserves, including 48 billion barrels of discovered but undeveloped oil and an estimated 90 billion barrels of potential reserves, with significant opportunities offshore.
He also cited 122 trillion cubic feet of undeveloped gas reserves, emphasizing the need for increased investment and advanced technology to unlock this potential.
“Our strategy focuses on the entire value chain, prioritizing infrastructure enhancement to optimize production and efficiency,” added Hisham Najah, General Manager of the NOC’s Investment & Owners Committees Department.
With strategic partnerships, technological advancements, and significant investments, Libya aims to revitalize its energy sector and harness its vast untapped resources, positioning itself as a leading energy producer in the region.
