Libya has set a target of raising its oil production capacity to 2 million barrels per day (bpd) by 2030 after achieving its highest crude output in more than a decade, the country’s National Oil Corporation (NOC) said.
The state-owned oil company announced that combined crude oil and condensate production had reached 1.48 million bpd, marking the highest level since 2013 and highlighting the sector’s gradual recovery following years of conflict and political instability.
According to figures released by the NOC, total output includes 1.44 million bpd of crude oil and 49,163 bpd of condensates, liquid hydrocarbons produced alongside natural gas.
The production milestone was announced during a meeting at the NOC headquarters in Tripoli chaired by NOC Chairman Masoud Suleiman and attended by senior executives from affiliated oil companies.
Suleiman described the achievement as a major step forward for Libya’s energy sector and said the company remained focused on reaching its production objectives before the end of the year.
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“The company seeks to achieve its planned production targets before the end of the year, in a move expected to support the national economy,” he said.
The latest figures represent an increase from the 1.43 million bpd recorded in April and underscore the momentum generated by a series of initiatives launched by the NOC to revive production and attract investment.
A key factor behind the increase has been the signing of new production-sharing contracts with major international energy companies, including Repsol, Eni, QatarEnergy, MOL Group and Turkey’s TPAO.
The agreements marked Libya’s first production-sharing contracts in nearly two decades and are expected to support exploration and development activities across the country.
The NOC has also benefited from the restart of the Mabrouk oil field, which had been damaged during years of conflict. The field has a production capacity of approximately 40,000 bpd and has resumed operations at full capacity.
In addition, the corporation has signed technical cooperation agreements with oilfield services provider SLB and the Project Management Institute to strengthen technical expertise and workforce development.
The company is also preparing new licensing rounds covering more than 40 marginal oil fields located in the Sirte, Murzuq, Ghadames and Sabratha basins in an effort to attract further investment and increase production.
Despite these gains, Libya’s oil sector continues to face significant challenges.
In January, Suleiman revealed that the NOC had operated throughout 2025 without an approved operating budget, highlighting the institutional and financial constraints affecting the industry.
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Political divisions and governance disputes have periodically disrupted production and exports in recent years, limiting the country’s ability to fully capitalize on its vast hydrocarbon resources.
Nevertheless, the NOC has maintained a steady growth trajectory and sees further expansion as essential to Libya’s economic recovery.
Oil remains the backbone of Libya’s economy, accounting for the overwhelming majority of export earnings and government revenue.
By increasing production capacity to 2 million bpd by the end of the decade, Libya hopes to strengthen its position as one of Africa’s leading oil producers while generating the revenues needed to support reconstruction and long-term economic development.
