Masoud M. Suleman, Chairman of Libya’s state-owned National Oil Corporation (NOC), will participate as a speaker at the Libya Energy & Economic Summit (LEES) 2026, scheduled for January 24-26, 2026, in Tripoli. The summit will bring together national and international energy stakeholders, including major operators such as bp, Eni, Shell, Chevron and TotalEnergies, to discuss strategies for Libya’s oil and gas sector, focusing on production growth, infrastructure investment and energy transition initiatives.
Under Chairman Suleman’s leadership, the NOC has embarked on a strategic revitalization of Libya’s oil sector. As of early January 2026, Libya’s production has stabilized at 1.38-1.4 million barrels per day (bpd), with a target of 1.6 million bpd by the end of 2026 . Looking ahead, the NOC aims to achieve 2 million bpd within three to five years, contingent on stable funding and security. In 2025, the country’s oil revenues reached $21.26 billion, an increase from $18.61 billion in 2024, demonstrating resilience amid fluctuating global prices.
A central focus for 2026 is the completion of the first competitive licensing round in 18 years, including 22 blocks – 11 onshore and 11 offshore. Offshore exploration remains a strategic priority for the NOC, with bp and Eni, in partnership with the Libyan Investment Authority, preparing to drill an exploratory deepwater well in the Sirte Basin (https://apo-opa.co/4q9JKw5). These initiatives are complemented by infrastructure investment plans, with the NOC estimating $3-4 billion in 2026 will be needed to modernize aging pipelines, restore lost capacity and enhance operational efficiency across its network.
Domestic refining and petrochemicals are also key pillars of the NOC’s agenda. Zallaf Libya, an NOC subsidiary, is advancing construction of a 30,000-bpd refinery in the southern town of Ubari to meet local fuel demand and reduce imports. Meanwhile, the Ras Lanuf ethylene plant (https://apo-opa.co/4sAHQGM) and a second methanol plant at Sirte Oil Company have recently resumed operations, reinforcing Libya’s refining and downstream capacity.
Environmental and gas sector strategies are integral to sustainable growth. For 2026, the NOC is targeting a reduction in gas flaring of 120 million cubic feet per day, with previously-flared gas directed toward stabilizing the national power grid and supporting domestic energy needs. Structural reforms, introduced following Suleman’s formal appointment as Chairman in October 2025, focus on improving governance, transparency and audit practices across all subsidiaries, including Akakus Oil Operations, now producing 325,000 bpd, and Waha Oil Company, peaking at 371,000 bpd.
“We are honored to welcome Chairman Masoud M. Suleman as a keynote speaker at LEES 2026,” states James Chester, CEO, Energy Capital & Power. “His participation underscores Libya’s commitment to transparency, sector reform and investment-ready projects, offering attendees unique insights into the country’s energy growth and strategic opportunities.”
At LEES 2026, Chairman Suleman will be positioned to engage with international operators to discuss mature and marginal field strategies, technical partnerships and investment opportunities, reinforcing Libya’s position as a stable and attractive destination for global energy investment.
Join industry leaders at the Libya Energy & Economic Summit 2026 in Tripoli and explore investment opportunities in one of North Africa’s most dynamic energy markets. LEES 2026 offers a premier platform for partnerships, innovation and sector growth. Visit www.LibyaSummit.com to secure your participation. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
