Speaking with Energy Capital & Power at the Libya Energy & Economic Summit (LEES), Executive Chairman NJ Ayuk said that the country’s commitment to collaboration, drive for heightened exploration and forward-looking approach to industry development has already begun to boost investor confidence.

“Since creating a stable government, Libya has focused on being resilient, bringing fields back to where they need to be but also driving projects forward. There was a time when Libyan production was 400,000 bpd but we now see output at around 1.5 million bpd. They are currently on a path towards 2 million bpd over the next 18 to 20 months,” Ayuk stated.

Calling for a ‘drill baby drill’ mindset, Ayuk said that Libya’s approach to industry collaboration will support the country’s production goals. He explained that “The Prime Minister and Minister being here gives investors’ confidence, not only with words but deeds. They have spent time to meet every investor that comes to the country. The NOC also really engages with investors, reassuring them and addressing operational risks. You see a strong commitment from the government while giving citizens the chance to partner with international investors.”

Platforms such as LEES further support industry targets, uniting players from the global and Libyan oil and gas sectors while fostering engagement and partnerships. The event not only provides an opportunity for companies to share operational updates but outline future growth strategies.

“What companies like Energy Capital & Power have done is give government and the NOC a chance to listen to investors and take in their feedback, enabling them to get right back to work and put in policies that can drive projects. This conference has been an amazing opportunity for Libya and for investors to see a new Libya,” Ayuk said.

Watch the full interview below:

https://youtu.be/fgIYWWRYCRw