Libya unveils new oil find as production ambitions rise

Libya’s National Oil Corporation has confirmed a significant oil discovery in the Ghadames Basin, approximately 450 kilometers southwest of Tripoli, marking a fresh milestone in the nation’s energy ambitions.

The exploratory well, drilled under the oversight of the Arabian Gulf Oil Company, is estimated to produce 4,675 barrels of crude oil and two million cubic feet of natural gas per day. This latest development, the tenth well drilled in the area since exploration began in 1985, forms part of a strategic program to deepen national output, with drilling operations expected to reach 11,700 feet.

Government officials remain optimistic about the sector’s trajectory, as Oil and Gas Minister Khalifa Abdul Sadek outlined plans to increase daily production from 1.4 million to 1.6 million barrels next year.

With proven reserves of 48 billion barrels and oil revenues accounting for over 90 percent of state income, the nation’s hydrocarbons remain pivotal to economic resilience.

Yet, Libya’s path toward sustained recovery remains fraught, given persistent insecurity and the influence of armed groups over critical oil infrastructure. Against the backdrop of prolonged political division between rival administrations in Tripoli and the east, this discovery serves as both a symbol of potential and a reminder of the challenges that continue to shadow Libya’s energy landscape.