NOC Chairman at the Launch of NOVA 2026
This conference provides a strong platform for our international partners to exchange expertise and knowledge, helping to further strengthen strategies for sector development.
Mr. Masoud Suleman, Chairman of the Board of Directors of the National Oil Corporation (NOC), attended this morning the opening of the NOVA 2026 conference and exhibition, focused on exploration, development, and digital transformation, which is taking place in Benghazi from October 5 to 7.
In his remarks, Mr. Suleman said the conference provides an important forum for decision-makers, experts, and specialists to discuss key issues facing the oil and gas sector and its future prospects. He also noted that it offers an opportunity to showcase the latest technologies and solutions aimed at improving the sector’s performance.
Mr. Suleman further highlighted Libya’s strong oil potential, pointing out that the country has the largest proven oil reserves in Africa. He also emphasized the exploration opportunities across Libya’s sedimentary basins, especially the Sirte Basin, along with the country’s strategic position on the Mediterranean Sea.
He said Libya’s oil production has exceeded 1.4 million barrels per day this year, the highest level recorded since 2013, attributing this achievement to the NOC and its subsidiaries. He explained that the increase comes as a result of rehabilitating previously idle fields, drilling new development wells, completing projects, carrying out routine well maintenance, and upgrading infrastructure.
Suleman also said that NOC remains committed to achieving its short-, medium-, and long-term targets for the oil and gas sector. He noted that these efforts include diversifying energy sources, reducing gas flaring, developing natural gas transport infrastructure, and encouraging international companies to resume operations in Libyan oilfields.
Mr. Suleman said that the NOVA conference and exhibition provides a strong platform for communication between NOC and its international partners. He noted that it creates an important opportunity to exchange expertise and knowledge, opens new avenues for cooperation, and thus supports the growth of the oil and gas sector while strengthening Libya’s position in the energy industry.
The event, held under the sponsorship of the NOC, was attended by senior executives from a number of oil companies, along with a distinguished group of experts, specialists, and guests.