Libya’s acting oil and gas minister, Khalifa Abdul Sadiq, revealed ambitious government plans to significantly increase oil production in the coming years. The government seeks to finance this expansion through a loan from the central bank and by attracting foreign investment.
New production targets
During his speech at ADIPEC 2025 in Abu Dhabi, Abdul Sadiq stated that the government is considering increasing production to 1.6 million barrels per day in 2026. He confirmed that production will reach 1.8 million barrels per day in 2027.
The minister stressed that the ultimate goal is to reach two million barrels per day within the next five years.
Financing and Investment Plan
To finance this expansion strategy, the National Oil Corporation (NOC) intends to apply for a loan from the Central Bank of Libya.
The company’s chairman, Masoud Suleiman, told Reuters that the company has a plan in place to secure financing. He explained that additional capital would also come from investors interested in the sector.
Invitation to international investors
Suleiman affirmed that Libya is witnessing remarkable stability, emphasizing that “the doors are open to investors.” As evidence of this growing international interest, Suleiman noted that more than 40 international companies have expressed interest in the public tender recently launched by the corporation.
This historic initiative includes offering 22 blocks for oil and gas exploration and development. It is the first initiative of its kind in over 17 years, ending a long period of conflict and political instability that had hampered investment in Libya’s energy sector.
