Libya aims to attract up to $40 billion in foreign investment to double its oil production to 2 million barrels per day by the early 2030s
Executive summary: Libya’s National Oil Corporation said it needs between $36 billion and $40 billion of foreign investment to increase oil output to 2 million barrels per day by the early 2030s. Reaching this output level would significantly boost Libya’s oil revenues and could influence global crude supply dynamics, especially as the country seeks to recover from prolonged instability.
Who is involved: National Oil Corporation (chairman Masoud Suleman), the Libyan government, prospective foreign investors, and the Financial Times as the reporting source.
Likely next: The NOC will likely prepare an investment prospectus, engage with international oil companies, and pursue security and fiscal reforms needed to secure the required capital.
Libya’s National Oil Corporation announced a financing target of $36‑40 billion from foreign investors to raise crude output to 2 million barrels per day by the early 2030s, as reported by the Financial Times citing NOC chairman Masoud Suleman. The goal reflects the country’s effort to rebuild its oil sector after years of conflict and underinvestment. Achieving this scale of investment would require substantial improvements in security, fiscal terms, and contractual frameworks to be attractive to international oil companies.
Timeline
- — Libya Seeks Up to $40 Billion to Boost Oil Output to 2 Million Bpd (OilPrice)
Analysis — what this means
Sectors affected
- Oil & gas exploration and production
Sources
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