Libya Energy & Economic Summit 2026: Major Oil Companies Commit to Libya’s Oil Sector Growth. Tripoli, Libya — Key players in the global oil industry are set to converge at the Libya Energy & Economic Summit (LEES) 2026, aimed at advancing Libya’s upstream investment agenda. Diamond Plus Sponsor Assail Drilling and Diamond Sponsors TotalEnergies, ConocoPhillips, Repsol, OMV, and Eni are among those participating, signaling their support for Libya’s exploration, production, and investment goals.
Libya, which has been a significant oil producer in the Middle East and North Africa region, is targeting an oil production of 2 million barrels per day (bpd).
The summit, scheduled for January 24-26, 2026, in Tripoli, will focus on infrastructure and investment as drivers of the nation’s energy growth. Assail Drilling’s participation underscores the critical role of local drilling and services capacity in Libya’s upstream expansion.
The company is scaling operations across key producing assets, enhancing drilling capacity while supporting workforce development, safety standards, and technical training in Libya’s oil and gas sector. Recent developments across international energy company portfolios highlight Libya’s near-term production upside. For instance, OMV announced a major discovery at the B1-106/4 well in the Sirte Basin in late 2025, with test flows exceeding 4,200 bpd of oil and 2.
6 million cubic feet per day of gas. Estimated recoverable volumes at the Essar prospect range between 15 and 42 million barrels of oil equivalent. TotalEnergies has demonstrated its long-term commitment to Libya’s evolving energy landscape through a multi-energy strategy, including upstream growth, gas development, and decarbonization.
The company has supported the country’s ambitions to increase output, strengthen energy security, and attract international capital. ConocoPhillips is engaged in high-level negotiations with the National Oil Corporation (NOC) to secure competitive fiscal and operational terms, aiming to unlock multi-billion-dollar developments.
The company is prioritizing large — scale projects such as North Gialo 6J and NC-98, as well as drilling, gas integration, and operational readiness initiatives.
Repsol has accelerated its upstream activity in Libya, lifting operated production to around 307,000 bpd and targeting 350,000 bpd by year-end.
The company is executing a nine — well drilling campaign in the Murzuq Basin while advancing gas flaring reduction initiatives and an LPG project in Ubari. Eni, a cornerstone of Libya’s gas-focused growth strategy, is advancing the $8 billion offshore Structures A&E project, targeting up to 750 million standard cubic feet per day with first gas expected around 2026.
The company has also resumed offshore and onshore exploration and has been shortlisted for Libya’s upcoming upstream licensing round.
The Libya Energy & Economic Summit 2026 offers a premier platform for partnerships, innovation, and sector growth. Further details and opportunities for participation can be found at www.
LibyaSummit.
Com. Further details on the summit’s outcomes and the impact on Libya’s oil production targets are expected to emerge as the event progresses.
Source: Diamond Plus and Diamond Sponsors Unite at LEES 2026 to Advance Libya’s Upstream Investment Agenda — Com/diamond-plus-and-diamond-sponsors-unite-at-lees-2026-to-advance-libyas-upstream-investment-agenda/ (energycapitalpower.
*Additional reporting by ImNews | Sources consulted: 3*
