Libya’s NOC urges increased investment, technology to tap into vast oil, gas reserves

(MENAFN) Libya’s National Oil Corporation (NOC) urged for increased investment and advanced technology to tap into the country’s vast untapped oil and gas reserves, the NOC’s senior advisor, Bashir Carea, said on Sunday.

Speaking at the Libya Energy and Economic Summit 2025 during a session titled "Unlocking Libya - the Next Frontier for Exploration and Investment," Carea emphasized Libya’s significant energy potential.

“We have 48 billion barrels of discovered but unexploited oil, with total potential estimated at 90 billion barrels, especially offshore,” Carea stated.

He also pointed out Libya’s enormous natural gas reserves, noting, "Libya has 122 trillion cubic feet of gas that has yet to be developed. To realize this potential, we need more investors and new technology, especially for brownfield revitalization."

Despite ongoing internal conflicts, Libya’s oil and gas production recently reached a decade-high of 1.6 million barrels per day (bpd), nearly meeting its long-term target of 2 million bpd.

This recovery is expected to boost Libya's economy and enhance its standing in global energy markets.

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