Libya’s prime minister announced Saturday that national oil production reached a 12-year high in 2025, rising to 1.37 million barrels per day.
Speaking in Tripoli, Abdulhamid Dbeibah addressed the opening of the Libya Energy and Economy Summit, where officials and investors gathered beneath hopeful banners.
He said production resumed last year at several major oil fields, including Iravn, Mutahandush, al-Khayr, Hamada 47 and Sinawan.
Dbeibah also revealed that Libya launched its first oil and gas licensing round in 17 years, drawing strong interest from international energy companies.
He said the tender results are expected in the second week of February, a moment eagerly awaited by markets and policymakers.
The prime minister announced that new summit agreements would develop two offshore gas fields, expanding Libya’s reach beyond its desert heartland.
He said existing deals between the National Oil Corporation, TotalEnergies and ConocoPhillips will be amended into 25-year partnerships exceeding $20 billion.
Dbeibah added that a memorandum of understanding with Chevron will cover exploration, field development and new production opportunities.
He also said Libya will sign a cooperation agreement with Egypt on exploration, production and energy logistics services.
Libya, an OPEC member, holds some of the world’s largest oil reserves, estimated at 48.4 billion barrels.
Proven natural gas reserves stand near 1.5 trillion cubic meters, positioning the country as a long-term supplier to regional and global markets.
With vast land and abundant sun, Libya also holds rich renewable potential, promising a future beyond hydrocarbons.
Officials say stabilising production, modernising infrastructure and integrating renewable energy remain central to national development priorities.
