-Diamond Plus Sponsor Assail Drilling and Diamond Sponsors TotalEnergies, ConocoPhillips, Repsol, OMV and Eni reaffirm their support for Libya’s exploration, production and investment agenda at next month’s Libya Energy & Economic Summit.
Assail Drilling Company (a Diamond Plus sponsor) and TotalEnergies, ConocoPhillips, Repsol, OMV and Eni (Diamond sponsors) will participate in the Libya Energy & Economic Summit (LEES) 2026 at the highest level, reaffirming strong international and domestic backing for Libya’s upstream growth strategy as the country targets oil production of 2 million barrels per day (bpd).
Assail Drilling’s participation underscores the critical role of local drilling and services capacity in Libya’s upstream expansion. The company continues to scale operations across key producing assets, strengthening drilling capacity while supporting workforce development, safety standards and technical training across Libya’s oil and gas sector.
Recent developments across international energy company portfolios highlight Libya’s near-term production upside. In late 2025, OMV announced a major discovery at the B1-106/4 well in the Sirte Basin , with test flows exceeding 4,200 barrels per day (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. OMV is engaging with the National Oil Corporation (NOC) to lift force majeure in several contract areas and advance new seismic acquisition and drilling programs in early 2026.
Reaffirming its long-term commitment to Libya’s evolving energy landscape through a multi-energy strategy spanning upstream growth, gas development and decarbonization, TotalEnergies has worked to support the country’s ambitions to lift output, strengthen energy security and attract international capital. In 2025, the company advanced record-setting production across the Waha concessions, progressed restart plans at Mabruk, expanded exploration in the Murzuq Basin and evaluated large-scale solar capacity near Misrata alongside low-carbon solutions such as methane detection technologies.
Underscoring its strategic role in advancing Libya’s long-term production growth and investment framework, ConocoPhillips has deepened engagement with the NOC through high-level negotiations aimed at securing competitive fiscal and operational terms to unlock multi-billion-dollar developments. As part of its interests in Waha, ConocoPhillips is prioritizing large-scale projects such as North Gialo 6J and NC-98, as well as drilling, gas integration and operational readiness initiatives designed to support Libya’s ambition of reaching 2 million bpd by the end of the decade.
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 to improve domestic energy access. Production at the El Sharara field has also exceeded 300,000 bpd for the first time since 2019, reinforcing Repsol’s growing operational momentum across the country.
Eni will reinforce its position at LEES as a cornerstone of Libya’s gas-focused growth strategy. Operated primarily through Mellitah Oil and Gas, a 50-50 joint venture with the NOC, Eni 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, alongside carbon capture and storage at Mellitah. The company has resumed offshore and onshore exploration, operates the Bahr Essalam and Wafa fields, plans €8 billion in investments by 2029 and has been shortlisted for Libya’s upcoming upstream licensing round.
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.
