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🛒 تسوق الآنNOC and Schlumberger Forge Partnership to Develop Libya's Marginal Oilfields
NOC and Schlumberger Forge Partnership to Develop Libya's Marginal Oilfields
A Strategic Push to Unlock Untapped Reserves
Libya's National Oil Corporation (NOC) Chairman Masoud Suleiman met with a senior delegation from Schlumberger (SLB) on June 9, 2026, to discuss strengthening cooperation in developing the country's vast marginal oilfields. The talks mark a significant step in Libya's broader strategy to boost crude production from its current 1.38 million barrels per day (bpd) toward an ambitious target of 2 million bpd by 2030. With over 40 marginal fields earmarked for redevelopment, the partnership could reshape Libya's upstream sector.
Key Facts: What Was Discussed
- Marginal field development: NOC and Schlumberger discussed activating plans to develop more than 40 marginal oilfields across Libya, positioning smaller assets at the forefront of production growth.
- Technology transfer: The talks covered mechanisms for transferring advanced drilling and reservoir management technologies to Libya's oil industry, including AI-driven exploration tools.
- Training Libyan professionals: A major focus was expanding capacity-building programs to develop Libyan expertise and create leadership opportunities within the national oil sector.
- Production targets: Libya aims to raise output to 1.6 million bpd by end of 2026, requiring $3–4 billion in new investments to modernize infrastructure.
- SLB's expanded role: Chairman Suleiman stressed the importance of Schlumberger playing a greater role in preparing and implementing marginal field development plans.
Why Marginal Fields Matter
Libya holds Africa's largest proven oil reserves at approximately 48 billion barrels, yet many smaller fields have remained underdeveloped due to years of conflict and underinvestment. Marginal fields — those with lower output potential or higher extraction costs — represent a critical opportunity. NOC's plan to auction over 40 such fields, first announced in July 2025, is designed to attract international expertise and capital that can make these assets commercially viable. Schlumberger, as the world's largest oilfield services company, brings the technical capabilities needed to unlock these reserves efficiently.
Human Element: Building Libyan Expertise
Central to the discussions was the emphasis on human capital development. NOC Chairman Suleiman highlighted that technology transfer must go hand-in-hand with training Libyan professionals. "The development of marginal fields and supporting NOC efforts to increase production and improve sector efficiency" requires a skilled local workforce, according to statements from the meeting. The partnership aims to ensure that Libyan engineers and technicians gain hands-on experience with cutting-edge oilfield technologies, reducing long-term dependence on foreign contractors.
Libya Connection: What This Means for the Economy
Libya's economy remains overwhelmingly dependent on oil revenues, which account for approximately 95% of export earnings and 60% of GDP. Every additional 100,000 barrels of daily production translates to roughly $2.5 billion in annual revenue at current prices. For ordinary Libyans, successful development of marginal fields means more government revenue for public services, infrastructure, and job creation. The training programs also open pathways for thousands of young Libyans to enter the high-skilled oil sector, addressing one of the country's most pressing employment challenges.
Looking Ahead
The NOC-Schlumberger meeting signals growing international confidence in Libya's oil sector stability. As one of the world's leading oilfield service companies deepens its commitment, Libya is well-positioned to accelerate production growth while building domestic capacity. The coming months will reveal specific timelines and investment figures, but the direction is clear: Libya's marginal fields are moving from untapped potential to active development. For a nation rebuilding after more than a decade of disruption, this partnership could be a cornerstone of economic recovery.
— LibyaPress / Economy Desk
