Sibel Morrow and Firdevs Yuksel
25 January 2026•Update: 26 January 2026
TRIPOLI
The Libyan prime minister said Saturday that oil output reached its highest in 12 years in 2025, climbing to 1.37 million barrels per day.
Speaking at the opening of the Libya Energy and Economy Summit (LEES) 2026 in Tripoli, Abdulhamid Dbeibah said last year production began at several oil fields across the country, including Iravn, Mutahandush, al-Khayr, Hamada 47 and Sinawan.
Dbeibah also said Libya launched its first oil and natural gas exploration licensing round in 17 years in 2025, attracting strong interest from international energy companies.
He said the results of the tender are expected to be announced in the second week of February.
Pointing to new agreements expected at the summit, Dbeibah said deals would be signed to develop two offshore natural gas fields.
“The agreements between Libya’s National Oil Corporation (NOC) and France’s TotalEnergies, and the US-based ConocoPhillips will be amended. The agreement will run for 25 years and include investments exceeding $20 billion,” he noted.
He said amendments would also be made to agreements between the NOC, TotalEnergies and ConocoPhillips.
He added that the summit would also see the signing of a memorandum of understanding with US energy company Chevron covering exploration, field development and production opportunities, as well as a cooperation agreement with Egypt on exploration, production and related logistics services.
A member of the Organization of the Petroleum Exporting Countries (OPEC), Libya ranks among the world’s top 10 countries in proven oil reserves, estimated at 48.4 billion barrels, according to OPEC data. Proven natural gas reserves are estimated at around 1.5 trillion cubic meters.
With high solar exposure and a vast geographic area, Libya also holds significant renewable energy potential.
In recent years, stabilizing oil and gas production, upgrading energy infrastructure and integrating renewable sources into the national energy mix have remained key national priorities.
