African Energy Chamber
The African Energy Chamber (AEC) welcomes Libya’s accelerating recovery in the energy sector, as rising production, renewed investment and policy clarity signal the country’s re-emergence as a key African and Mediterranean energy producer.
At the Libya Energy & Economic Summit (LEES) 2026 in Tripoli, Libya’s leadership outlined a clear commitment to restoring output, monetizing gas resources and creating an investment environment capable of supporting long-term energy development. The AEC views these priorities as essential to translating Libya’s resource wealth into reliable power supply, economic growth and improved living standards.
Libya’s oil sector has recorded its strongest performance in years, with production averaging approximately 1.375 million barrels per day. Plans to further increase output through a $20 billion investment program reflect a renewed focus on operational stability, international partnerships and performance-driven growth. For the AEC, sustained oil production remains critical to generating revenues needed to fund infrastructure, public services and broader development objectives.
Gas monetization is emerging as a central pillar of Libya’s energy strategy. With gas production expected to reach 700–750 million standard cubic feet per day, Libya is well positioned to expand domestic power generation, reduce energy shortages and support industrial activity. Increased gas utilization also offers a practical pathway to lowering emissions by replacing higher-carbon fuels, while improving affordability and reliability for households and businesses.
Libya’s energy resurgence also carries a strong regional and pan-African dimension. LEES 2026 highlighted the importance of cross-border cooperation, knowledge exchange and investment integration across North Africa and the continent at large. The Chamber sees Libya’s recovery as an opportunity to demonstrate how African countries can work together to strengthen energy security and create regional value chains that support industrial growth, workforce development and energy access.
“Libya is showing that African nations can deliver energy projects at scale when stability, political will and investor-friendly frameworks come together,” said NJ Ayuk, AEC Executive Chairman, speaking at LEES 2026. “By prioritizing energy access, domestic power generation and long-term investment, Libya is laying the foundation for inclusive growth and sustainable development.”
The AEC also welcomes Libya’s focus on operational efficiency, zero-flaring initiatives and workforce development, recognizing these efforts as essential to sustaining production gains while maximizing local value creation. Investments in skills training and technology will be vital to ensuring that energy development translates into jobs, knowledge transfer and long-term economic benefits.
As Libya advances its energy reform agenda, the AEC reiterates its commitment to supporting policies that promote investment, energy access and African-led development. “Libya’s resurgence reinforces a simple truth,” Ayuk added. “Africa’s energy future will be built through pragmatism, partnerships and delivery – not delay.”
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Libya Targets Up to 100 Wells in 2026
Matthew Goosen
Libya plans to drill between 70 and 100 oil and gas wells in 2026 as part of a push to revive upstream activity and raise national output.
Announced by Libya’s Minister of Oil and Gas Dr. Khalifa Abdulsadek at the Libya Energy & Economic Summit (LEES) 2026 in Tripoli, the target underscores the country’s renewed operational momentum, reflecting improved stability, a clearer regulatory framework and growing international confidence.
“Last year, we drilled more than 30 wells,” Minister Abdulsadek said. “We are targeting more than 70 wells or even more than 100 wells this year and we will keep building in the coming years.”
At the center of the strategy is Libya’s re-opened upstream investment framework, anchored by its first major licensing round in 17 years. The round, covering 22 blocks – 11 onshore and 11 offshore – with results due in February 2026, is expected to unlock a new wave of exploration and appraisal drilling as international operators move toward final agreements.
To support this scale-up, Libya estimates annual investment requirements of $3-4 billion in 2026 and has introduced its first unified drilling regulations, aimed at improving safety, lowering
Momentum around the round was reinforced during LEES 2026, where the NOC and government entities signed a series of cooperation agreements, memoranda of understanding (MoUs) and development frameworks with international oil companies and service providers, signaling renewed confidence in Libya’s upstream outlook.
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