Libya is advancing a dual development approach across its energy sector, targeting oil production of 1.6 million barrels per day by the end of 2026 and 2 million barrels per day by 2030, while simultaneously expanding renewable energy capacity.
Minister of Oil and Gas Dr. Khalifa Abdulsadek emphasized that reaching the 1.6 million barrels per day target relies primarily on redevelopment of brownfield assets. Current production stands at approximately 1.4 million barrels per day, a 10-year high.
The country is focusing on fields including Daffa, Sirir, Misla, Amal and Ghani. Drilling additional wells in those fields, debottlenecking surface facilities and improving operations will unleash the full potential of these assets, according to Abdulsadek.
On the refining front, Libya operates five main refineries with a combined nameplate capacity of 380,000 barrels per day, though output currently hovers around 180,000 barrels per day due to operational disruptions at Ras Lanuf and damage at Zawiya. Plans are underway to upgrade the Zawiya refinery, with investment and financing options under review, and to resolve the longstanding closure at Ras Lanuf.
In addition to the Zawiya refinery upgrade, work is progressing on other refineries including Serir, Brega, Tobruk and Ras Lanuf. However, the main focus will be on Zawiya, which is the largest facility, followed by Ras Lanuf as a second priority, Abdulsadek explained.
Libya is also advancing its renewable energy agenda. The Ministry facilitated an agreement between the Renewable Energy Authority of Libya and American energy firm W16 to develop a 100 MW utility-scale solar project. This initiative forms part of Libya’s National Strategy for Renewable Energies and Energy Efficiency 2023-2025, which aims to increase the country’s renewable energy share to 17% by 2025 and up to 25% by 2030.
The Minister emphasized government vision to introduce renewable energy for power generation while noting that recent agreements signed include a $20 billion, 20-year development deal for the Waha oil fields with TotalEnergies and ConocoPhillips, as well as a memorandum of understanding with Chevron to support brownfield and exploration projects.
Source: energycapitalpower.com