Libya plans to drill between 70 and 100 new oil and natural gas wells during 2026 as part of a broader strategy to revive exploration, boost production, and attract foreign investment, Oil and Gas Minister Khalifa Abdulsadek said.
Speaking at the Libya Energy and Economy Summit 2026 in Tripoli, Abdulsadek said the ambitious drilling programme reflects renewed operational momentum across the country’s energy sector. He pointed to improved stability, a clearer regulatory framework, and growing international confidence as key factors supporting the expansion.
The minister said Libya drilled more than 30 new wells over the past year and now aims to significantly accelerate activity. He added that construction and development works would continue in the coming years as part of a long-term plan to restore production capacity.
Abdulsadek said the core of the strategy focuses on reopening Libya’s upstream investment framework through its first major licensing round in 17 years. The round is expected to trigger a new wave of exploration and appraisal activity as international companies move closer to finalising agreements.
The bidding round includes 22 onshore and offshore blocks, with results expected to be announced in February. Officials believe the round could mark a turning point for Libya’s oil and gas sector after years of underinvestment and disruption.
Libya estimates its annual investment needs at between $3 billion and $4 billion in 2026. The country has also issued its first unified drilling regulations, aimed at improving safety standards and reducing operational risks.
Momentum around the licensing round was reinforced during the summit, where the National Oil Corporation signed several cooperation agreements, memoranda of understanding, and development frameworks with international oil companies and service providers.
The deals signal renewed confidence in Libya’s exploration and production outlook, as authorities seek to stabilise output and position the country as a competitive energy supplier in the Mediterranean region.
