Libya’s Development and Reconstruction Fund signed agreements with international partners for desalination plants, bridges in Benghazi and technical upgrades.

Petrofac secured a $100 million contract to design, procure, construct and commission surface facilities for the Erawin Field Development Project in southwest Libya.

Libya’s oil production has reached 1.4 million barrels per day – the highest level since 2013.

The two countries have discussed strengthening energy cooperation through investment, training and development of Libya’s oil, gas and renewable energy sectors.

Sirte Oil and the Libyan Fertilizer Company are driving Libya’s petrochemical growth through major upgrades to methanol and urea production facilities, supporting the country’s broader strategy to monetize gas reserves, diversify exports and expand non-oil sectors.

The $1 million project will focus on digitizing Libya’s financial management systems, enhancing transparency and fostering private sector growth through targeted reforms.

Libya’s oil production has surged to 1.37 million bpd following key milestones achieved at various upstream projects.

Libya’s Ministry of Oil and Gas has confirmed plans for a new oil and gas licensing round by early 2025, with the upcoming Libya Energy & Economic Summit set to spotlight opportunities in the Sirte, Murzuq and Ghadames basins.

Taking place in January 2025, the Libya Energy & Economic Summit serves as the country’s global energy event.