Libya: the NOC estimates the oil sector’s needs at 30 to 40 billion dollars.

This estimate does not correspond to any funds already raised. According to the head of the public company, it represents the amount needed to bring resources into production, whose development is delayed by a lack of capital and the structural difficulties in the sector.

Masoud Suleiman indicated that the NOC is exploring changes to its partnerships with international companies. The options mentioned include returning to concession contracts or improving production sharing terms so that partners take on a larger share of the financing.

The amount suggested is consistent with a $36 billion estimate communicated in early August by the same official to Bloomberg. The NOC had then linked this figure to its goal of reaching 2 million barrels per day by the beginning of the next decade.

Significant reserves, but constrained financing

With about 48 billion barrels of proven reserves, Libya holds the largest oil stock in Africa. The NOC indicated in January that it wanted to first reach 1.6 million barrels per day before aiming for 2 million in the medium term.

The sector remains the main source of public revenue for the country. The African Development Bank emphasizes that the NOC plays a central role in the Libyan economy and that dependence on hydrocarbons exposes public finances to production interruptions and price fluctuations.

Investors also have to deal with political fragmentation, the presence of armed groups, and attacks on certain infrastructures. These risks can interrupt operations, increase project costs, and complicate the legal security of contracts.

The NOC has not published, along with this estimate, the detailed list of the fields involved or a project-by-project timeline. Therefore, the mobilization of the $30 to $40 billion will depend on agreements made with partners, the chosen contractual terms, and the continuity of operations at the sites.