The Libya Energy & Economic Summit 2021 has officially commenced in Tripoli, with regional and global industry players coming together for two days of networking and dialogue. The highly anticipated, historic event was officially opened with a keynote address by H.E. Ramadan Boujnah, Acting Prime Minister of Libya, and H.E. Mohamed Oun, Minister of Oil and Gas of Libya, both of whom emphasized the role and value of the event in transforming Libya’s energy sector.

With the swearing in the new administration in March 2021, Libya has placed itself on a path of accelerated industry growth, due to the resumption of sector activities and re-emergence of international stakeholders and investors. Clear production targets, project resumptions, and emerging opportunities have positioned the country as a highly attractive investment destination. As the Ministry of Oil and Gas aggressively pursues enhanced participation by regional and global players, the Summit has come at a critical time in Libya’s energy sector transformation journey.

“The oil field in Libya will see a thriving boom going forward,” stated H.E. Acting Prime Minister Ramadan Boujnah.

Meanwhile, Libya has focused attention on an enabling environment with a series of implemented reforms streamlining sectoral activities and increasing the ease of doing business. Libya has a specific role to play as both an African oil producer and exporter.

The swearing in of the new administration marked a critical turning point for the country, ushering in a new era of peace and stability for the nation. Strategically located, rich with natural resources, and holding significant opportunities across a range of sectors – including renewables -, Libya is set to undergo both an energy and economic transformation.

“The Ministry of Oil and Gas has started new initiatives for green and renewable energy,” stated H.E. Minister Oun.