Latest news with #MinistryofOilandGas
Yahoo
17-05-2025
- Business
- Yahoo
Libya's Future in Peril Again, While Russia Expands Its Influence
North Africa's most resource-rich nation, Libya—home to vast hydrocarbon and mineral reserves—is once again at a crossroads. Despite its potential, the country continues to struggle with instability and lacks the international attention needed for sustainable progress. Backed by Western and Turkish support, Libya's internationally recognized government is attempting to revitalize its upstream oil and gas sector, which is already attracting notable global interest. At the African Energy Forum in Paris, Abdolkabir Alfakhry, a representative of Libya's Ministry of Oil and Gas, announced that nearly 40 international companies have expressed interest in the upcoming licensing round, which is expected to be formally launched in November. Alfakhry emphasized that future development efforts will prioritize offshore resources, an area that remains largely underexplored. According to the Ministry, the bid round—initially announced in March 2025—will offer 22 onshore and offshore blocks covering a total area of 235,267 square kilometers. These include 128,714 km² offshore and 106,553 km² onshore, primarily within the Sirte, Ghadames, and Murzuq Basins, with potential future activity in the Kufra Basin. Contracts will be offered under the Production Sharing Agreement (PSA) model, with deals expected to be signed between November 22 and 30. Estimates suggest the blocks may contain approximately 1.63 billion barrels of oil equivalent in discovered reserves. Libya has actively promoted these opportunities through events in Houston, London, and Istanbul. European energy giants such as Shell, BP, TotalEnergies, Eni, and Equinor are expected to participate, alongside U.S. firms like ConocoPhillips, which has maintained a longstanding presence via the Waha Concession. ConocoPhillips' President for Europe, the Middle East, and Africa, Steiner Vage, confirmed continued American interest in expanding operations in Libya. Global demand for hydrocarbons and the urgency to diversify Libya's economy further reinforce the strategic importance of this bid round. For Europe, new oil and gas volumes from Libya could significantly bolster energy security amid geopolitical uncertainty. However, persistent instability threatens to derail progress. Recent clashes in Tripoli, sparked by the killing of prominent militia commander Abdel Ghani al-Kikli (known as Ghaniwa), once again exposed Libya's fragile security landscape. Ghaniwa, a key figure in the Stability Support Apparatus (SSA), was killed in a facility controlled by the 444 Brigade, loyal to Prime Minister Abdul-Hamid Dbeibah. The violence forced hundreds to flee and risked spreading to other regions. While the Government of National Unity (GNU) has since declared the situation under control, no official response has yet come from the east, where the Libyan National Army (LNA), led by General Khalifa Haftar, remains dominant. The timing of the unrest is especially notable: it coincided with General Haftar's visit to Moscow, where he and his son, Saddam Haftar, met with President Vladimir Putin and Russian Defense Minister Andrei Belousov. Reports suggest discussions covered enhanced military cooperation, arms deals, and potential Russian military infrastructure in eastern Libya—a strategic foothold that would significantly expand Moscow's influence in the Mediterranean. Since its loss of strategic positions in Syria, Russia has been actively seeking new naval and military assets in North Africa. Libya, with its Mediterranean coastline and proximity to Europe, offers a prime location. Russian involvement in Libya complements its expanding presence in Algeria, Tunisia, and across the Sahel, including Mali, Burkina Faso, Niger, and Chad. European leaders are growing increasingly alarmed. Italian Defense Minister Guido Crosetto recently warned that Russian military capabilities could be positioned 'just two steps away' from Italy's maritime territory, threatening NATO's southern flank and Europe's energy and commodity supply lines. The intensifying geopolitical competition in Libya is likely to impact the success of the November bid round. European nations, particularly Italy and France, must take more decisive action. Ensuring Libya's stability is not only key to regional development—it is vital to safeguarding Europe's maritime security and energy future. By Cyril Widdershoven for More Top Reads From this article on
Libya Review
05-05-2025
- Business
- Libya Review
Libya & Malta Explore Energy Investment Opportunities
Libya's Minister of Oil and Gas, Khalifa Abdelsadeq, held talks with Malta's Ambassador to Libya, Charles Saliba, to strengthen bilateral ties and expand cooperation in the oil, gas, and energy sectors. The meeting, held on Monday, focused on enhancing partnership opportunities amid Libya's ongoing efforts to attract foreign investment in its energy sector. According to a statement from the Ministry of Oil and Gas, both parties discussed developments in Libya's ongoing licensing round for exploration. The round offers a range of new opportunities for foreign companies, and the officials highlighted the importance of leveraging strong Libya-Malta relations to open new horizons for energy cooperation. Minister Abdelsadeq stressed that Libya is open and ready to welcome foreign investment, particularly as the National Oil Corporation (NOC) aims to boost national oil production to two million barrels per day. This target, he noted, presents promising investment opportunities for international partners. In a step toward fostering practical collaboration, Abdelsadeq invited the Maltese embassy to coordinate with private sector companies in both Malta and Libya to organise a joint economic forum. He suggested the event could serve as a dynamic platform for experience-sharing, networking, and forming strategic partnerships in the energy industry. This comes after Libya launched its first public bidding round for exploration and drilling since 2007. The round, announced by the NOC in March, includes 22 blocks – 11 offshore and the remainder situated in central and southern Libya. The government views this initiative as a major step toward reviving the country's oil sector and encouraging global investment. The Libya-Malta dialogue signals growing international interest in Libya's untapped energy potential and reflects efforts to reposition the country as a reliable energy partner in the Mediterranean. Tags: EnergygaslibyaLibyan OilMaltaoil
Zawya
17-04-2025
- Business
- Zawya
Libya Energy & Economic Summit Returns to Tripoli for 2026 Edition
Now in its fourth year, the Libya Energy&Economic Summit has established itself as the premier international platform for driving investment, technical innovation and private sector engagement in Libya's energy sector. Building on three years of unprecedented growth, the 2026 edition will take place in Tripoli on January 24-26 – marking the first time the event will span three full days in response to growing international interest. As Libya aims to increase oil production to two million barrels per day within the next two to three years, LEES 2026 will provide crucial insights into the country's ambitious energy agenda, with a central focus on the role of private sector actors, both Libyan and international, in driving this growth. Natural gas development and associated infrastructure are also key priorities for Libya's energy sector, as the country seeks to boost gas output to meet domestic energy needs and ensure reliable fuel supplies for critical downstream industries. Importantly, LEES 2026 will be the first major industry gathering to take place after the close of Libya's licensing round at the end of 2025, making it the definitive forum for understanding the new exploration landscape and identifying high-value opportunities. Libya recently launched its 2025 licensing round — the first in 17 years — offering 22 onshore and offshore exploration blocks. With 167 active contractual blocks and an exploration success rate of 33%, the country is well-positioned to attract new investors and encourage existing operators to expand their acreage, thereby further advancing drilling and discovery efforts. As Libya continues to scale up its oil and gas production, the 2026 summit will feature an expanded technical agenda, building on the success of the in-depth technical sessions introduced in 2025. The upcoming edition will offer even more programming focused on engineering, exploration, digitalization and field development, in response to strong demand for technical expertise from upstream and midstream professionals. International participation is also set to grow in 2026, with LEES continuing to partner closely with leading industry associations from top investor countries including the U.S., the U.K. and Italy, among other strategic partners. The upcoming edition is expected to feature an expanded number of international pavilions, reflecting heightened global interest in Libya's energy sector. Recent changes to U.K. travel guidance and other foreign policy shifts are paving the way for broader international involvement — signaling that Libya is opening up and re-engaging with the private sector on a larger scale. Building on previous endorsements from the Ministry of Oil and Gas and the National Oil Corporation (NOC), the summit unites global energy leaders, policymakers and investors to forge strategic partnerships and drive the ongoing revitalization of Libya's energy sector. LEES 2026 is poised to continue this momentum, serving as a vital catalyst for private sector investment and global partnerships. The upcoming edition will bring together a diverse range of stakeholders — including NOC subsidiaries, international oil companies, financial institutions, energy organizations and leading technology providers — with a shared focus on driving investment and highlighting high-impact opportunities to realize Libya's energy ambitions. The Libya Energy&Economic Summit unites regional and global industry stakeholders to unlock Libya's energy potential. Now entering its fourth year, the summit returns to Tripoli on January 24–26, 2026 to serve as a gateway to investment, collaboration and innovation in Africa's leading oil and gas market. Visit for more information. To sponsor or attend as a delegate, contact sales@ Distributed by APO Group on behalf of Energy Capital&Power.
