Libya is targeting oil production capacity of two million barrels per day (bpd) under a planned $36 billion expansion. The four sponsors are pursuing different routes to growth, from restarting fields that have been offline for years to preparing new discoveries for development. Their latest investments reflect the scale of the opportunity and the work required to unlock it.

TotalEnergies Brings Mabruk Back Online

TotalEnergies restarted production at the Mabruk oilfield on February 28, 2026, ending a shutdown that began in 2015. The company holds a 37.5% interest in the field and completed a new processing facility designed to handle 25,000 bpd. The restart restores production from a long-idle asset and adds capacity to Libya’s efforts to lift national output.

At LEES 2026 in January, TotalEnergies also signed an agreement with Libya’s National Oil Corporation (NOC) to extend its interests in the Waha concessions through 2050. Beyond oil production, the company is advancing the 500 MW Sadada solar project near Misrata, one of its major investments in Libya’s renewable energy sector.

Repsol Secures New Offshore Acreage

Repsol is expanding its exploration footprint through offshore Area O7, which it secured in February 2026 during Libya’s first licensing round in nearly two decades. The company operates the 10,300 km2 block with a 40% interest, alongside Türkiye Petrolleri and Hungary’s MOL Group. A production sharing agreement signed in June commits the consortium to acquiring 2D and 3D seismic data and drilling one exploration well.

Repsol is also pursuing new resources onshore. In April, the NOC and Repsol’s Libyan subsidiary REMSA announced an oil discovery at well J1-4/130 in the Murzuq Basin. The well flowed at an average rate of 763 bpd from the Mummiyat Formation, providing another exploration lead as the company seeks to sustain its Libyan production base.

bp Prepares to Resume Drilling

Joining LEES as a first-time sponsor, bp is advancing its return to Libyan exploration through a joint venture with Eni, following the resumption of drilling in the Ghadames Basin in October 2024 and the reopening of its Tripoli office in December 2025. The company holds a 42.5% interest in three exploration areas across the Ghadames and Sirte basins, alongside operator Eni (42.5%) and the Libyan Investment Authority (15%). The partners subsequently began deepwater exploration drilling in the Sirte Basin in January 2026.

The company is also evaluating opportunities to recover additional resources from Libya’s established oilfields. A July 2025 MoU with the NOC covers the potential redevelopment of the Sarir and Messla fields, two major mature assets in the Sirte Basin. The agreement also provides for technical assessments of unconventional tight oil and gas formations, broadening the scope of bp’s potential involvement.

OMV Advances Essar Toward Production

OMV’s Essar discovery in the Sirte Basin moved closer to development after the NOC approved the field’s technical and economic evaluation in July 2026. In September, OMV raised its recoverable resource estimate to 45 million barrels of oil, nearly tripling its original assessment. The B1-106/4 well is expected to reach gross production capacity of 6,000 bpd.

The discovery builds on a record year for OMV in Libya, where production averaged 35,000 bpd, up 25% year-on-year. Development is progressing through the Zueitina Oil Company, with two additional appraisal and development wells planned. Essar’s proximity to existing processing infrastructure offers a lower-cost development route, potentially accelerating the conversion of newly confirmed resources into production.

Together, the four Diamond Sponsors reflect the breadth of international investment supporting Libya’s production ambitions, with projects at different stages of development across the country. At LEES 2027, their latest activities will provide a measure of how quickly new discoveries, renewed drilling and returning production can translate into higher national output.

For more information about the summit, visit www.libyasummit.com, and to secure your position as a sponsor or participate as a delegate, contact sales@energycapitalpower.com.