[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

6 clusters · 14 sources · 52 days · First seen · Last updated

Libya oil and gas output expansion

Overview

Since mid‑June 2026 Libya has re‑established crude exports to Nigeria, Egypt and Tunisia, while Italy remains its biggest buyer at roughly 348,000 bpd. Overall output hovers around 1.4 million bpd, though May exports fell 11 % after a fire at Sharara‑linked infrastructure.

The Mabrouk field resumed full operations in mid‑June, adding about 30,000 bpd with a target of 40,000 bpd, contributing to record monthly oil revenues of $2.8 billion in April and nearly $4 billion in May. Despite the revenue surge, political disputes over central‑bank control of oil proceeds have limited broader economic benefits and fuel shortages persist in western cities.

Gas production was boosted by the Sabratha Compression project on the offshore Bahr Essalam field, a 1,600‑tonne module that adds roughly 440 million cubic feet per day, strengthening domestic electricity supply and increasing exports to Italy via the Greenstream pipeline.

NOC’s four‑pillar strategy under Farhat Bengdara has lifted crude output from about 660,000 bpd in July 2022 to 1.38‑1.4 million bpd in early 2026, generating $21‑22 billion in 2025 revenues. The first competitive licensing round in two decades attracted major firms (Shell, BP, ExxonMobil, TotalEnergies, Eni, QatarEnergy), leading to new production‑sharing agreements and technical cooperation with BP.

The Essar field discovery, confirmed in July, holds an estimated 195 million barrels and is expected to produce ~5,000 bpd once developed, supporting Libya’s goal of 1.6 million bpd by year‑end and 2 million bpd in the near term.

In August NOC secured a $2 billion operating budget and a $36 billion programme aimed at reaching 2 million bpd by early 2031. A $5 billion tender for the North Gialo field, with TotalEnergies and ConocoPhillips as partners, targets roughly 100,000 boe/d.

Entities

Libyan Foreign Bank · Masoud Suleiman · ConocoPhillips · National Oil Corporation (Libya) · TotalEnergies

Timeline

  1. 4 days ago

    [BUSINESS] 3 sources
    Libya's NOC secures $2bn operating budget, eyes $5bn North Gialo oil field tender

    Libya's NOC secured a LYD13bn (~$2bn) operating budget, seeks $16bn foreign funding and $20bn domestic investment to hit 2 m bpd by 2031, and plans a $5bn tender for the North Gialo field.

  2. 24 days ago

    [BUSINESS] 3 sources
    Libya confirms commercial viability of new Essar oil field with ~195 million barrels

    Libya's NOC and OMV deem the new Essar field commercially viable, estimating 195 million barrels of reserves and a 5,000‑bpd output, bolstering the country's oil‑sector recovery.

  3. 27 days ago

    [BUSINESS] 2 sources
    Libya's National Oil Corporation Boosts Production and Attracts International Partners

    Libya’s NOC, led by Farhat Bengdara, raised oil output to ~1.4 M bpd and secured new international partners; AGOCO met BP to boost field development and efficiency.

  4. about 1 month ago

    [BUSINESS] 5 sources
    Libya boosts gas output and exports to Italy with Eni's Sabratha Compression project

    Eni and Libya's NOC launched the Sabratha Compression project, adding about 800 million m³ of gas per year, strengthening domestic power and exports to Italy via Greenstream.

  5. about 2 months ago

    [BUSINESS] 2 sources
    Libya's oil output climbs as Mabrouk field restarts amid record revenues

    Libya’s oil revenues hit decade‑highs while the Mabrouk field resumes at 30,000 bpd, part of a push to reach 2 million bpd by 2030 despite ongoing political and institutional challenges.

  6. about 2 months ago

    [BUSINESS] 2 sources
    Libya Restarts Crude Shipments to Nigeria, Egypt and Tunisia

    Libya has restarted crude exports to Nigeria (64,500 bpd), Egypt (up to 57,000 bpd) and Tunisia (10,000‑19,000 bpd) as regional buyers diversify supplies, while overall Libyan exports fell 11% in May.

Sources

africa.com · afriqueconfidentielle.com · bairdmaritime.com · borse.it · ceotodaymagazine.com · ecofinagency.com · libyaherald.com · libyanexpress.com · libyareview.com · m.kenh14.vn · oedigital.com · offshore-energy.biz · soha.vn · vietnamplus.vn