Libya aims to increase its oil production to 1.6 million barrels per day (BPD) by the end of 2025, backed by investments of $3–4 billion, Oil and Gas Minister Khalifa Abdulsadeq said on Sunday. Speaking at the Libyan Energy and Economic Summit (LEES) in Tripoli, the minister detailed plans to achieve the target through brownfield development, foreign investment, and a new licensing round, marking a significant step in the country’s efforts to rebuild its oil sector.
Libya has already made considerable progress in restoring its oil output, which had fallen sharply in previous years due to political instability and infrastructure damage. Prime Minister Abdulhamid Al-Dbeibeh highlighted the achievement during the summit, noting that production had increased from 800,000 BPD in 2021 to 1.4 million BPD as of January 2025.
“There is momentum in reconstruction, and this can only be achieved by increasing production,” Abdulsadeq told reporters on the sidelines of the summit. He emphasized that the planned investments and policy measures are essential for sustaining growth in the sector, which is critical for Libya’s economic recovery.
New Licensing Round to Attract Investment
A new licensing round, expected to be approved by the Libyan cabinet this month, will offer 15 to 21 oil blocks across three basins for exploration and development. Abdulsadeq described the initiative as a key component of Libya’s strategy to attract both local and international companies.
“Massive opportunities exist in fields that have been discovered but not fully developed. This licensing round will allow us to tap into those resources while ensuring that local companies play a significant role,” he said during a panel discussion on global energy security.
The minister noted that many of Libya’s oil fields remain underutilized due to years of conflict and insufficient investment. The government hopes the new licensing round will revitalize these areas and contribute to the broader goal of raising production to 2 million BPD within the next two to three years.
Strategic Role in Global Energy
Libya’s strategic location and abundant natural resources give it the potential to become a key player in the global energy market, Abdulsadeq said. The country’s leadership is focusing on creating a secure and sustainable energy future, which includes leveraging its oil reserves to drive economic growth and attract foreign investment.
During his keynote address at the summit, Abdulsadeq underscored the importance of collaboration between local and international stakeholders to maximize the sector’s potential. “Our goal is to create a more resilient and competitive energy industry that can meet global demand while supporting Libya’s reconstruction efforts,” he said.
Challenges Ahead
Despite its ambitions, Libya faces significant challenges, including political instability, security concerns, and the need to modernize its aging oil infrastructure. The government has prioritized addressing these issues as part of its broader strategy to stabilize the country and attract investment.
Libya’s oil sector, which accounts for nearly all of its export revenue, is seen as the linchpin for the nation’s economic recovery. Officials at the summit expressed optimism about the country’s ability to achieve its targets, citing recent improvements in governance and increased interest from foreign investors.
By leveraging new investments and policy initiatives, Libya hopes to solidify its position as a leading oil producer in the region and contribute to the global energy supply.
