Libya’s NOC Targets Global Investment as it Heads to AEW 2026

Libya’s National Oil Corporation (NOC) will lead a delegation to African Energy Week (AEW) 2026 in Cape Town from October 12–16, showcasing the country’s expanding upstream opportunities and ambitious production growth strategy. The participation comes as Libya accelerates exploration, attracts international investment and develops infrastructure to unlock its substantial oil and gas resources.

Libya’s production recovery provides a strong foundation for this investment drive, with crude and condensate output reaching nearly 1.5 million barrels per day (bpd) in June. The milestone, the country’s highest operational level since 2013, reflects renewed upstream activity and provides momentum for the NOC’s plans to establish a 1.6-million-bpd production baseline before scaling towards 2 million bpd.

The expansion will build on Libya’s 2025 licensing round, which reopened the country’s upstream sector to international investors after almost two decades. Production-sharing agreements with major international energy companies including Chevron, Repsol, TPAO, Eni, QatarEnergy and MOL Group are now supporting exploration and development programmes across several highly prospective basins.

Chevron’s entry into Libya represents a particularly significant development, with the company securing onshore Contract Area 106 in the Sirte Basin. The agreement adds another major international operator to Libya’s expanding upstream investment landscape while bringing additional technical expertise and exploration capital into one of the country’s most important hydrocarbon regions.

New exploration successes are further strengthening the investment proposition, with discoveries demonstrating potential across both oil and gas plays. The NOC and Algeria’s Sonatrach recorded a gas discovery in the Ghadames Basin, while offshore testing by Eni North Africa in Block D delivered flow rates of up to 24 million cubic feet per day.

Gas development is emerging as another major pillar of Libya’s growth strategy, with the NOC seeking to expand domestic supply while developing additional commercial opportunities. Eni’s Bahr Essalam compression project is expected to add 100 million standard cubic feet per day, while the $8-billion Structures A&E offshore development is targeted for completion by late 2027.

The NOC is also prioritising infrastructure investment to unlock stranded resources and increase the efficiency of Libya’s energy system. Around $2 billion is planned for pipeline upgrades, while proposed cross-border infrastructure with Egypt could strengthen links between Libyan production, Egyptian refining capacity and European markets.

At AEW 2026, Libya will present this expanding project pipeline to international investors, energy companies and financial institutions seeking opportunities across Africa. With new acreage, rising production, major gas developments and infrastructure projects moving forward, the NOC’s participation underscores Libya’s ambition to position its resources at the center of the continent’s next phase of energy investment.

“Libya is opening a new chapter for international investment, with significant resources, new acreage and an ambitious production strategy creating opportunities across the energy value chain,” said NJ Ayuk, Executive Chairman, African Energy Chamber. “The NOC’s participation at AEW 2026 will help connect Libya’s investment agenda with global companies and capital looking for high-impact opportunities across Africa.”

AEW 2026 is fast-approaching but there is still time to secure your place.
Visit www.aecweek.com for more information about registration.