In his opening keynote, Prime Minister Abdulhamid Al-Dbeibeh highlighted Libya’s production recovery and ongoing reform efforts, while confirming that the country will announce the results of its first major oil and gas licensing round in more than 17 years in February 2026. The round, launched in March 2025, offers 22 onshore and offshore blocks to international bidders under revised fiscal and profit-sharing terms designed to improve competitiveness and support Libya’s long-term output goals.

“These major milestones demonstrate Libya’s clear commitment to opening its energy sector to serious partners and advancing toward our goal of increased output and improved investment climates,” Al-Dbeibeh said.

The summit’s opening ceremony also saw the signing of three agreements. These included a memorandum of understanding (MoU) with Chevron to assess potential exploration and development opportunities, a bilateral oil and gas cooperation MoU between Libya and Egypt, and a First Amendment to the re-entry agreement for the Waha concession with TotalEnergies and ConocoPhillips. The Waha amendment reflects a broader effort to modernize contractual frameworks and incentivize long-term investment under updated fiscal terms.

Al-Dbeibeh described Libya’s oil and gas sector as entering a decisive phase of recovery, driven by rising production, renewed exploration activity and strengthening international partnerships. Crude oil output exceeded 1.4 million bpd in 2025, while total production reached more than 1.52 million barrels of oil equivalent per day in early 2026. Oil revenues totaled approximately $21.9 billion in 2025, representing a 15% year-on-year increase.

He pointed to the reactivation of key producing assets, including the Mabruk field, record output at Sharara and the highest production levels in more than two decades at Sirte Oil Company. Gas development was also highlighted as a strategic priority, with Al-Dbeibeh citing the $8 billion Structures A&E offshore project with Eni, scheduled to come online in 2026 and expected to add 750 million cubic feet per day of gas.

NOC Chairman Masoud Suleiman echoed the government’s message in his own remarks, stating that Libya’s energy sector has reasserted itself on the global oil and gas map. He said the NOC recorded its highest cumulative oil production in 13 years, supported by field reactivations and new discoveries. Suleiman also highlighted the corporation’s “Think Tomorrow” sustainability initiative, which targets near-zero gas flaring by 2030 and includes a tree-planting program, while reaffirming the ambition to reach 2 million bpd within three years.

U.S. engagement featured prominently at the opening of LEES 2026. Massad Boulos, Special Advisor to the U.S. President on Arab and Middle Eastern Affairs, described Libya as “open for business” and poised for renewed economic growth, while urging political leaders to strengthen national institutions and avoid unilateral actions. The renewed engagement was reinforced by the signing of the amended Waha agreement between the NOC, TotalEnergies and ConocoPhillips under revised fiscal terms.