Libya’s National Oil Corporation (NOC) has confirmed that the consortium formed by the Libyan Investment Authority (LIA), Italy’s Eni, and the United Kingdom’s BP will drill two new exploration wells in 2026.
The two wells include one in the Ghadames Basin and another in the offshore section of the Sirte Basin. The decision comes after the consortium successfully drilled an exploratory well this year in Ghadames, signaling renewed momentum in Libya’s upstream sector after years of delays and operational disruptions.
The announcement followed a technical meeting held on Monday at NOC headquarters in Tripoli, where the corporation’s Exploration Department convened with senior officials from Eni, BP, and the Libyan Investment Authority.
The meeting reviewed the consortium’s exploration activities for 2025 and discussed the proposed work program for 2026, with a focus on both onshore and offshore operations in the Ghadames and Sirte basins.
Participants examined drilling plans, seismic survey results, resource potential, and operational preparedness for next year’s campaign. NOC officials emphasized the strategic importance of accelerating exploration in these basins, which are considered among the most promising regions for new oil and gas discoveries.
The Ghadames Basin, in particular, holds substantial undeveloped reserves, while the offshore Sirte Basin represents one of Libya’s most valuable long-term assets due to its significant gas potential.
Libya has been working to revive foreign investment in energy exploration following repeated calls from the High Council for Energy Affairs, chaired by Prime Minister Abdel-Hamid Dbaiba. In September 2023, the council urged the NOC to expedite negotiations with major international companies to launch new projects in Ghadames and expand exploration efforts across the country.
NOC officials said the partnership with Eni and BP strengthens Libya’s capacity to undertake advanced exploration work by combining technical expertise, financial strength, and modern technologies. They added that successful drilling in 2026 could unlock new reserves, expand national production capacity, and contribute to long-term energy security.
