Libya’s state-owned National Oil Company (NOC) predicts that deepwater exploration in the Mediterranean will unlock new acreage and attract a wider range of international and national oil companies. This, according to the NOC, will set the stage for a major regional expansion of upstream activity while de-risking exploration and divining international interest. Announced by NOC Director of Exploration Abdulmonem Betikh during the Libya Energy & Economic Summit (LEES) in Tripoli, the comments underscore Libya’s push to revive exploration of deep offshore targets and accelerate production growth across the region. “Production is going to be increased significantly in the coming years, driven primarily by the bid round and offshore exploration and development,” Al Nabhani stated. “One of the big drivers is to shorten the time between discovery and production,” he said.

Source: The North Africa Journal January 25, 2026 17:31 UTC