Libya’s National Oil Corporation (NOC) has accelerated its modernization strategy through two major partnerships with United States-based organizations, underscoring the country’s ambition to strengthen technical capabilities, develop local expertise and increase oil production as it seeks to reclaim its position as a leading energy producer in Africa.
Within 48 hours, the state-owned oil company signed separate agreements with global oilfield services giant SLB and the Project Management Institute (PMI), a leading international project management certification body. Together, the partnerships form part of a broader effort to address both the technical and human capital challenges facing Libya’s energy sector as the country pursues ambitious production targets.
The agreements come at a pivotal moment for Libya’s oil industry, which has shown signs of renewed momentum following years of political instability, operational disruptions and underinvestment. Recent production gains, rising revenues and the launch of new exploration opportunities have strengthened confidence in the sector’s recovery prospects.
The latest agreement, signed with PMI on June 9, focuses on workforce development and institutional capacity building. According to Libyan media reports, the partnership will establish a joint platform to provide National Oil Corporation employees with internationally recognized training programmes and professional certifications aimed at improving project delivery and management standards across the energy sector.
The initiative is expected to support the development of a new generation of Libyan energy professionals capable of managing increasingly complex infrastructure and investment projects while adopting global best practices in project execution.
“This cooperation represents one of the first initiatives of our new Technical and Administrative Development Center,” NOC Chairman Masoud Suleiman said following the signing ceremony.
Officials at PMI indicated that the collaboration could strengthen project performance across the sector and contribute to Libya’s wider economic development goals by improving the effectiveness of large-scale energy investments.
The PMI partnership follows closely on the heels of a separate agreement with SLB, formerly known as Schlumberger, one of the world’s largest oilfield services providers. That agreement is designed to support technological advancement within Libya’s upstream oil sector, including efforts to improve production from underdeveloped fields and introduce advanced drilling and reservoir management techniques.
Taken together, the two agreements illustrate a dual-track strategy aimed at modernizing both the technical foundations of Libya’s oil industry and the human resources required to sustain long-term growth.
Industry analysts note that while technological innovation remains critical to increasing oil production, the success of large-scale energy investments also depends heavily on the availability of skilled engineers, project managers and technical specialists capable of overseeing increasingly sophisticated operations.
The partnerships align with a broader transformation agenda that has gathered momentum throughout 2026. Earlier this year, Libya launched its first oil and gas exploration licensing round in 17 years, attracting interest from international energy companies eager to expand their presence in one of Africa’s most resource-rich hydrocarbon markets.
The tender process marked a significant milestone for the sector and signaled renewed confidence in Libya’s energy investment environment. It also coincided with a period of elevated global oil prices and growing international interest in securing new sources of energy supply.In another significant development, Libya approved its first unified national budget in 13 years in April, allocating approximately 12 billion Libyan dinars, equivalent to around $1.9 billion, to support the National Oil Corporation’s activities and investment programmes.
These policy and financial developments have been accompanied by notable operational achievements. In May, the National Oil Corporation recorded its highest monthly revenue in a decade, generating approximately $4 billion from hydrocarbon exports. Production levels have also continued to rise. According to industry data, Libya produced approximately 1.43 million barrels of oil per day in April, representing the highest output level recorded in ten years. The achievement reflects the gradual restoration of production capacity across key oilfields and export infrastructure following years of disruptions.
Despite this progress, significant challenges remain. Structural financial constraints continue to affect the company’s ability to fully execute its expansion plans. Earlier this year, NOC leadership acknowledged that the organization had operated without an approved operational budget throughout much of 2025, creating difficulties in meeting financial obligations to contractors and oilfield service providers.
Outstanding payments and supplier debt remain ongoing concerns, particularly as the company seeks to attract additional investment and technical partners to support production growth.
These financial pressures highlight the delicate balance facing Libya’s energy sector. While the country possesses some of Africa’s largest proven oil reserves and significant untapped production potential, sustained growth will require continued investment, institutional strengthening and operational stability.
Nevertheless, NOC remains committed to ambitious expansion targets. The company aims to increase production to 1.6 million barrels per day by the end of 2026, representing an important intermediate milestone toward its longer-term objective of reaching 2 million barrels per day by 2030. Achieving these targets would further strengthen Libya’s position within the global energy market while generating critical revenue for economic reconstruction and development. Oil remains the backbone of the Libyan economy, accounting for the overwhelming majority of export earnings and government revenues.
The latest partnerships suggest that NOC recognizes the importance of investing not only in production assets but also in the people, systems and technologies needed to sustain long-term growth. By combining advanced oilfield expertise with internationally recognized professional development programmes, Libya is seeking to build a more resilient and competitive energy sector capable of supporting its broader economic ambitions.
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As production expands and new exploration opportunities emerge, the success of these modernization efforts could play a decisive role in determining whether Libya achieves its goal of restoring output to levels not seen in decades while positioning itself as a key player in Africa’s evolving energy landscape.
