The announcement comes as Libya pursues an ambitious strategy to revitalize its energy sector. The country currently produces approximately 1.4 million barrels per day (bpd) of crude oil, with total daily output – including condensates and gas – at 1.52 million barrels of oil equivalent, near a 12-year high. Libya’s parastatal National Oil Corporation (NOC) has set aggressive targets: 1.6 million bpd by end-2026, 1.8 million bpd by 2027 and 2 million bpd within five years.

Join industry leaders at the Libya Energy & Economic Summit 2026 in Tripoli and explore investment opportunities in one of North Africa’s most dynamic energy markets. LEES 2026 offers a premier platform for partnerships, innovation and sector growth. Visit www.libyasummit.com to secure your participation. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Libya remains one of the few OPEC+ members exempt from production quotas, enabling the country to expand output independently, offering attractive opportunities for international oil companies (IOCs). In 2025, the NOC signed MoUs with major IOCs including bp, Shell and ExxonMobil, targeting development and exploration across key onshore and offshore blocks such as Sarir, Messla and strategic offshore assets. Algeria’s state-owned Sonatrach and Austrian oil company OMV have also resumed exploration in the Ghadames and Sirte basins.

The NOC announced its first licensing round in 17 years in March 2025, offering 22 exploration and development areas, with interest from over 40 companies. Libya’s Minister of Oil and Gas Khalifa Abdulsadek estimated that $3-4 billion in new investment is required to modernize infrastructure and reach near-term production goals. Libya’s light sweet crude remains highly attractive to European refiners seeking alternatives following reduced Russian oil imports.

As such, Al Ghais’ keynote at LEES 2026 is set to highlight Libya’s pivotal role in the global energy market, the importance of international investment and the need for stable, sustainable production growth. During the 2025 edition of LEES, he advocated for increased global hydrocarbon investments to meet rising energy demand, underscoring the ongoing relevance of Libya’s energy trajectory for investors worldwide.

“Secretary General Al Ghais’ participation at this year’s event showcases the critical role Libya plays in the global energy landscape. His insights will undoubtedly provide invaluable guidance for investors and industry stakeholders navigating the country’s ambitious production and growth plans,” states James Chester, CEO, Energy Capital & Power.