Close Menu
Libya Update NewsLibya Update News
  • Home
  • National
  • Region & World
    • The Maghreb
    • Middle East
  • Business
    • Oil & Gas
    • Economy
    • Analysis
  • Opinion
  • Editors’ Picks
  • Health & Lifestyle
  • Sports
Facebook X (Twitter) RSS
Trending
  • Ongoing rescue efforts after the sinking of a boat off the coast of Tobruk
  • Start of potato harvest at Al-Kufra Agricultural Project to enhance food security
  • Colonists storm The Blessed Al-Aqsa Mosque under the guard of Israeli Occupation Police
  • Kuwait’s Interior Minister: The new citizenship law will protect national identity
  • The Public Prosecution refers 6 employees in the Ka’am Civil Registry Office to court for judgment on charges of forging three family papers
  • Tamouh Organization concludes ‘Her Ambitious Voice’ project to support and empower women
  • School of Legal Sciences at the Libyan Academy launches a national initiative to save the unity of the judicial authority in Libya
  • Health Committee of the House of Representatives participates in a free medical day for the Libyan community in Amman
  • About Us
  • Contact Us
Facebook X (Twitter) RSS
Libya Update NewsLibya Update News
Subscribe
Sunday, 19 April 2026
  • Home
  • National
  • Region & World
    • The Maghreb
    • Middle East
  • Business
    • Oil & Gas
    • Economy
    • Analysis
  • Opinion
  • Editors’ Picks
  • Health & Lifestyle
  • Sports
Libya Update NewsLibya Update News
Home » Report: Libya continues to expand its energy sector with 3 new discoveries despite investment caution

Report: Libya continues to expand its energy sector with 3 new discoveries despite investment caution

Monday, April 13, 2026 Oil & Gas 3 Mins Read
Reports: More than 40 companies interested in Libyan oil with the first licensing round since 2011

A Gulf report indicates Libya has announced the discovery of three new oil and gas fields. This comes amidst efforts to increase production.

An economic report highlighted Libya’s recent announcement. The country has discovered three new oil and gas fields. This is part of its ongoing efforts. Libya aims to increase hydrocarbon production. It also seeks to enhance its capabilities in the energy sector. The “Arab Gulf Business Insight” website published this report.

Discovery in Ghadames Basin with Sonatrach

The National Oil Corporation (NOC) announced a new discovery. Algerian company Sonatrach partnered in this effort. They found gas and oil in the Ghadames basin. This is located in northwestern Libya. The field’s daily production is 13 million cubic feet of gas. It also yields 327 barrels of condensates. This information comes from a report monitored by Al-Marsad newspaper.

This is Sonatrach’s sixth drilled well. Eight wells are planned in total. The wells are part of an exploration and production sharing agreement. This agreement was signed in May 2008.

Oil Discovery in Murzuq Basin

The NOC also announced another oil discovery. Spanish company Repsol collaborated on this. The discovery is in the Murzuq basin. This basin is 800 kilometers south of Tripoli. It has an average production of 763 barrels per day.

The two companies signed an exploitation agreement in 2008. This agreement aims to develop exploration and production activities. It focuses on this specific basin.

Offshore Gas Discovery with Italian Eni

The NOC and Italian company Eni announced an offshore gas discovery. It is located 95 kilometers off the Libyan coast. This discovery signifies continued activity. It highlights efforts in both offshore areas and onshore basins.

Agreements and Licenses Support Expansion

Libya signed a long-term development agreement last January. It is valued at $20 billion. French TotalEnergies and American ConocoPhillips are partners. The goal is to boost production capacity. This focuses on the Al-Waha oil project. Al-Waha is one of Libya’s largest oil projects.

Libya plans a second licensing round. This targets the upstream sector. The decision follows a strong response to the 2025 round. Khalifa Abdelsadeq confirmed this. He is the Minister of Oil and Gas in the Dbeibah government. The first round attracted over 50 companies. Many of these were major international oil firms.

Investment Caution Persists Despite Sector Importance

Libya is one of Africa’s largest oil producers. It is also an OPEC member. The country remains a key player in the energy market. However, foreign investors remain cautious. They hesitate to inject funds into Libya. This is due to ongoing instability. The instability has persisted since Muammar Gaddafi’s overthrow in 2011.

Follow on Google News Follow on Facebook Follow on X (Twitter)
Share. Facebook Twitter Pinterest LinkedIn Email Reddit Telegram WhatsApp Copy Link
Previous ArticleAl-Dbeibah receives Somalia’s Foreign Minister and discusses with him bilateral relations and regional issues
Next Article After hosting 550,000 Sudanese, a report warns of increasing pressures on host communities in Libya

Keep Reading

Conquest of Hormuz revitalizes global supplies and leads oil to a sharp drop

Australia establishes a $2 billion fund to support fuel imports amid a supply crisis

After a 9-year halt, Al-Brega Port resumes receiving cooking gas tankers

The Administrative Control Authority discusses with financial and oil entities the reconciliation of revenue data

The National Oil Corporation discusses strengthening its cybersecurity

Dangote Refinery confirms increase in gasoline and urea exports to compensate for supply shortage in Africa due to Iran crisis

Follow us on Twitter

The Libya Update Follow

Stay ahead of the curve with The #Libya Update - your go-to source for news and insights on Libyan politics, business, culture, and more. #LibyaNews

TheLibyaUpdate
thelibyaupdate The Libya Update @thelibyaupdate ·
17 Apr

The National Development Agency and Business France Launch Libyan-French Business Forum ...in Paris

https://libyaupdate.com/the-national-development-agency-and-business-france-launch-libyan-french-business-forum-in-paris/

The #Libya Update

Reply on Twitter 2045171316626440479 Retweet on Twitter 2045171316626440479 Like on Twitter 2045171316626440479 Twitter 2045171316626440479
thelibyaupdate The Libya Update @thelibyaupdate ·
17 Apr

GNU Minister of Civil Service Signs Cooperation Agreement to Enhance Administrative ...Development and Technological Transformation

https://libyaupdate.com/gnu-minister-of-civil-service-signs-cooperation-agreement-to-enhance-administrative-development-and-technological-transformation/

The #Libya Update

Reply on Twitter 2045109840888938724 Retweet on Twitter 2045109840888938724 Like on Twitter 2045109840888938724 Twitter 2045109840888938724
thelibyaupdate The Libya Update @thelibyaupdate ·
17 Apr

France confirms its support for the Sharm El Sheikh agreements and calls for the ...transition to the second phase in Gaza

https://libyaupdate.com/france-confirms-its-support-for-the-sharm-el-sheikh-agreements-and-calls-for-the-transition-to-the-second-phase-in-gaza/

The #Libya Update

Reply on Twitter 2044999796478394711 Retweet on Twitter 2044999796478394711 Like on Twitter 2044999796478394711 Twitter 2044999796478394711
libya update
Facebook X (Twitter) RSS

News

  • National News
  • The Maghreb News
  • Middle East News
  • Business News
  • Sports News

Company

  • Information
  • Ethics Policy
  • Corrections Policy
  • Fact-Checking Policy
  • GDPR Policy

Categories

  • Editors’ Picks
  • Opinion
  • Health & Lifestyle
  • Videos
  • Infographics

Subscribe to Updates

    © 2026 All copyrights reserved. The Libya Update.
    • About Us
    • Privacy Policy
    • Advertising

    Type above and press Enter to search. Press Esc to cancel.