By Ebi Kesiena
Libya’s National Oil Corporation (NOC) on Sunday called for increased investment and advanced technology to unlock the country’s vast untapped oil and gas reserves.
Speaking at the Libya Energy and Economic Summit 2025 during a session titled “Unlocking Libya – the Next Frontier for Exploration and Investment,” Bashir Carea, senior advisor to the NOC chairman, emphasised Libya’s significant energy prospects.
“We have 48 billion barrels of discovered but unexploited oil, with a total potential estimated at 90 billion barrels, particularly offshore,” Carea stated.
He also highlighted the country’s extensive natural gas reserves, noting, “Libya has 122 trillion cubic feet of gas that remains undeveloped. To harness this potential, we require more investors and advanced technology, particularly for the revitalisation of brownfield sites.”
Despite ongoing internal conflicts, Libya’s oil and gas production has reached a decade-high of 1.6 million barrels per day (bpd), approaching its long-term goal of 2 million bpd. This resurgence is expected to boost Libya’s economy and enhance its standing in global energy markets.
As a member of the Organization of the Petroleum Exporting Countries (OPEC), Libya ranks among the top 10 countries globally in proven oil reserves, with approximately 48.4 billion barrels, according to OPEC data.
