Energy & Oil
Africa's largest proven oil reserves with significant brownfield and offshore gas potential.
Sector Overview
Libya holds about 48 billion barrels of proved oil reserves and 53 trillion cubic feet of proved natural gas reserves, making it a cornerstone of Mediterranean energy security. The investable thesis is strongest where Libya’s geology is world-class and capital intensity can be reduced by using existing gathering systems, export routes, and ports.
Recent developments materially improve the opportunity set. In 2025, average crude production reached its highest in a decade at 1.374 million barrels per day. The gas case is equally strong, driven by a domestic power-sector shortage, a live export route to Italy via the Greenstream pipeline, and substantial opportunities in flare capture.
Key Highlighted Projects
Eni Structures A&E Offshore Gas
$8bn project adding 750M scf/day plateau.
TotalEnergies Waha Extension
North Gialo development aiming to add 100,000 boe/d.
Opportunity Matrix
Legal Framework
Governed primarily by Petroleum Law No. 25 of 1955 and subsequent EPSA (Exploration and Production Sharing Agreement) models with the National Oil Corporation (NOC). Oil and gas projects are excluded from the general Investment Law No. 9 of 2010.
Risk Snapshot
High operational risk mitigated by partnering with NOC, prioritizing brownfield sites near existing infrastructure, and structured staged capital deployment.