The Chairman of the National Oil Corporation (NOC), Masoud Suleiman, has confirmed their intention to launch a new exploration round targeting 1,000 wells, with the aim of enhancing oil production and supporting the national economy.

Suleiman explained, during an interview with Al-Araby Al-Jadeed newspaper on the sidelines of the Libya Energy and Economy Summit 2025, that the new round will depend entirely on investments by international companies, in a step aimed at reducing the financial burden on the NOC and strengthening the partnership with the international community. 

He also pointed out that oil production has grown by 400,000 barrels per day over the past two years.

Economy