Libya’s National Oil Corporation (NOC) and major international energy companies such as TotalEnergies, Eni, OMV, Repsol, and Nabors came together at the Libya Energy&Economic Summit 2025 on January 18 to discuss key exploration milestones and strategies aimed at advancing oil and gas production in the country.
TotalEnergies, one of the leading players in the industry, highlighted their recent onshore exploration project and the promising opportunities available in the Sirte and Murzuq basins. Julien Pouget, Senior Vice President for the Middle East and North Africa at TotalEnergies, emphasized that Libya, with 40% of Africa’s reserves, still remains largely untapped. He shared the company’s plans for 2025, including the completion of an onshore exploration project and new exploration ventures in the Waha and Sharara fields, expressing optimism for results in the near future.
Eni’s Upstream Director, Luca Vignati, echoed this positivity, outlining the company’s investment initiatives in Libya. Eni is launching three exploration plays – shallow, deepwater, and ultra-deep offshore, with Vignati noting that no other country offers such diverse opportunities. Additionally, Eni has invested over $10 billion in gas projects in Libya, including the Greenstream gas pipeline and a CO2 capture and storage plant in Mellitah.
Repsol also reiterated its commitment to advancing exploration in Libya, aiming to overcome industry challenges and achieve significant production milestones. Francisco Gea, Executive Managing Director, Exploration&Production at Repsol, highlighted the company’s efforts in increasing production to 340,000 barrels per day, with a target of reaching two million barrels per day. Gea emphasized the importance of bringing capacity and technology to the country as international companies.
Nabors, focusing on innovation to maximize production and accelerate exploration, emphasized the deployment of cutting-edge solutions to enhance efficiency, reduce costs, and ensure safer operations in Libya. Travis Purvis, Senior Vice President of Global Drilling Operations at Nabors, stressed the importance of technology in achieving these goals.
Bashir Garea, Technical Advisor to the Chairman of the NOC, pointed out Libya’s immense oil and gas potential, with 48 billion barrels of discovered but unexploited oil and total potential estimated at 90 billion barrels, especially offshore. Garea also mentioned Libya’s significant gas reserves of 122 trillion cubic feet yet to be developed, calling for more investors and new technology to unlock this potential, particularly for brownfield revitalization.
Hisham Najah, General Manager of the NOC’s Investment&Owners Committees Department, emphasized the importance of strengthening infrastructure to maximize production and efficiency in Libya. NJ Ayuk, Executive Chairman of the African Energy Chamber and session moderator, highlighted Libya as a prime destination for foreign investment, urging bold investments and strategic partnerships in the country’s energy sector.
In conclusion, Libya’s energy sector is poised for growth and development, with key players and stakeholders coming together to explore new opportunities and strategies for advancing oil and gas production in the country. The potential for investment and innovation in Libya’s energy industry is vast, making it an attractive destination for international companies looking to contribute to the country’s energy future.
