Exciting times are ahead for Libya’s energy sector! As the nation aggressively pursues upstream investment and prepares for its first licensing round in nearly two decades, all eyes are on its ambitious target: a crude oil production of 1.6 million barrels per day (bpd) by the end of 2026. This bold vision will take center stage at the upcoming Libya Energy & Economic Summit (LEES) 2026, set to convene industry leaders and experts.
Scheduled for January 24-26, 2026, in Tripoli, the fourth edition of LEES, themed “Infrastructure & Investment Driving Energy Growth,” is gaining significant traction. It’s officially endorsed by high-level government entities, including the Office of the Prime Minister, the Ministry of Oil and Gas, and the National Oil Corporation (NOC), underscoring its strategic importance.
Expert Voices Join the Dialogue
The summit promises invaluable market perspectives with confirmed participation from senior energy market analysts and advisory leaders:
- Haythem Rashed, Managing Director, Quidux Consulting Limited
- Jennifer Jumbe, Director-Energy & Natural Resources, S&P Global Commodity Insights
- Cristina Tomé Martinez, Technical Research Associate Director-Upstream Energy, S&P Global Commodity Insights
Their insights will be crucial as Libya records its highest oil output in over a decade and seeks to attract international capital to upgrade aging infrastructure and unlock new exploration potential across its major basins. You can explore more about the licensing round here and the production targets here.
The Backbone of Libya’s Economy
Libya’s hydrocarbon sector is the undisputed backbone of its national economy, accounting for approximately 90% of government revenues, 95% of exports, and over 60% of GDP. The NOC’s near-term goal of raising production from approximately 1.36 million bpd to 1.6 million bpd by end-2026 is just the first step in a longer-term ambition to reach 2 million bpd within three to five years. Achieving these targets will necessitate sustained foreign investment, estimated at $3-4 billion for infrastructure modernization, alongside continued political and security stability.
Insights from Leading Analysts
S&P Global Commodity Insights, a key provider of data and market intelligence, closely monitors Libya’s production recovery. Their analysis highlights that while Libyan output reached a 12-year high in mid-2025, the sector remains sensitive to political volatility. This underscores the critical need for resilient infrastructure and robust, long-term investment frameworks. Meanwhile, Quidux Consulting, a boutique advisory firm specializing in the Libyan energy market, will provide crucial analytical and strategic guidance.
Recent Momentum and Future Prospects
The momentum in Libya’s upstream sector is undeniable. Recent activities include the resumption of exploration and drilling by international majors such as Eni and bp in the Ghadames Basin, Repsol in the Murzuq Basin, and renewed commitments by TotalEnergies, OMV, and others. Gas development is also gaining strategic importance, with major projects aimed at strengthening domestic supply and exports to Europe, including via the GreenStream pipeline to Italy.
“The participation of analysts and advisory experts from S&P Global Commodity Insights and Quidux Consulting reflects the growing demand for high-quality data, insight and strategic guidance as Libya reopens its upstream sector,” states James Chester, CEO, Energy Capital & Power.
LEES 2026 is poised to be a pivotal event, bringing together government stakeholders, national and international oil companies, investors, and service providers. It will serve as an essential platform for examining Libya’s production outlook, licensing strategy, and infrastructure pipelines, fostering dialogue, partnerships, and deal-making in one of Africa’s most significant hydrocarbon markets. Don’t miss this opportunity to be part of Libya’s energy transformation!
Source: Original Article
