Libya has announced a series of new oil and gas discoveries in collaboration with three major international energy companies, marking a significant boost for its hydrocarbon sector.
According to Reuters, the discoveries were made by the state-run National Oil Corporation (NOC) in partnership with Sonatrach (Algeria), Eni (Italy), and Repsol (Spain).
The first discovery, located in the Ghadames Basin near the Algerian border, recorded output of 13 million cubic feet of gas and 327 barrels of condensates per day, while an offshore find with Eni in western Libya showed flow rates of up to 24 million cubic feet of gas daily, Reuters reported.
A third discovery in the Murzuq Basin, led by Repsol’s Libyan unit, yielded around 763 barrels of oil per day, further expanding Libya’s production potential across key basins.
The discoveries come as Libya intensifies efforts to revive its oil and gas sector and attract foreign investment, following years of political instability. Oil and gas currently account for more than 95% of the country’s economic output, making new finds critical to fiscal stability and long-term growth.
