Tripoli: Libyas energy sector is rebounding, attracting global investors and signaling a renewed commitment to production expansion, gas monetization and long-term partnerships. At the Libya Energy and Economic Summit (LEES) 2026 in Tripoli on Saturday, officials outlined a clear roadmap for growth, reform and regional collaboration.
According to African Press Organization, Libya's oil production reached an average of 1.375 million barrels per day (bpd) in 2025 - the highest in years - and the government aims to reach 2 million bpd by 2030, backed by a $20 billion investment program. "We witnessed the highest production rate in years, averaging 1.375 million bpd, which is a strong testimony to our recovery and stability," said Minister of Oil and Gas Dr. Khalifa Abdulsadek. "We have launched a program with 15 companies, and we expect production to rise over the next five years with a $20 billion investment."
Libya is prioritizing gas development to meet domestic power needs and support exports to Europe via the Greenstream pipeline. Gas production is expected to reach 700-750 million standard cubic feet per day in 2026. "One of Libya's greatest opportunities lies in its geographical location near one of the largest and most affluent markets in the world," said Dr. Philip Mshelbila, Secretary General of the Gas Exporting Countries Forum. With 750 million standard cubic feet per day expected this year, Libya can support domestic power, industry and export through the Greenstream pipeline to Europe.
Libya is deepening cooperation with Egypt to strengthen North African energy security and resilience, leveraging Egypt's liquefaction and export capacity alongside Libya's growing gas output. The Africa Energy Bank, led by the African Petroleum Producers Organization (APPO) and Afreximbank and ratified by Ghana and Nigeria, aims to bridge financing gaps for capital-intensive energy infrastructure projects, including initiatives like the proposed Libya-Algeria Power Interconnector.
Libya is also drawing lessons from regional peers such as Namibia, which has built investor confidence through transparent fiscal policies, predictable royalties and strong local content programs, and from Turkey, which is partnering with Libya to expand upstream production. "Namibia is attractive for investors due to its clear regulatory framework, stable political environment and consistent engagement with the investment community," said Namibia's Deputy Minister of Industries, Mines and Energy, Gaudentia Kr¶hne.
From a continental viewpoint, Libya's recovery reinforces the broader African energy agenda: turning resource potential into projects, investment and industrial growth. "Libya's resurgence is a critical turning point for African energy, and it demonstrates how resource potential can be transformed into real projects, jobs, and industrial growth when stability and investment frameworks align," said NJ Ayuk, Executive Chairman of the African Energy Chamber.