Libya’s oil minister has outlined a $20 billion investment drive to expand energy production as the country accelerates its recovery, the African Energy Chamber (AEC) said at the Libya Energy & Economic Summit (LEES) 2026 in Tripoli.
The summit brought together government officials and investors to chart plans for restoring output, monetising gas resources and attracting long-term capital to the sector.
Libya’s oil production has climbed to about 1.375 million barrels per day, marking its strongest performance in years, according to figures cited at the event.
The planned investment programme aims to raise output further by improving operational stability and strengthening partnerships with international firms.
Gas development featured prominently in the strategy, with production expected to reach 700–750 million standard cubic feet per day to support domestic power generation and industrial growth.
Officials said greater gas use would also help cut emissions and reduce reliance on higher-carbon fuels.
The AEC said Libya’s energy rebound could bolster revenues needed for infrastructure, public services and economic growth, while easing power shortages for households and businesses.
The summit also highlighted regional cooperation across North Africa to improve energy security and build cross-border value chains.
“Libya is demonstrating what is possible when political will and investor-friendly policies align,” AEC Executive Chairman NJ Ayuk said.
He added that the country’s focus on efficiency, workforce development and zero-flaring initiatives could anchor inclusive and sustainable growth.