The CEO of Spanish oil company Repsol, José Ángel Fernández, stated that the improvement in security and social conditions in Libya has allowed the company to resume operations and boost production in several fields.
In an interview with Investing.com, Fernández said: “I believe Libya is witnessing social, political, and security improvement.”
He pointed out that the company’s projects produced 307,000 barrels per day in the second quarter of this year, with Repsol’s net share of that production reaching 43,000 barrels per day.
He further explained that drilling activities in 2025 led to the reactivation of 12 new wells in the first and second quarters.
He added, “We will see more new wells in the coming months, and total production will increase by 12,000 barrels per day, with Repsol’s share ranging between 1,500 and 2,000 barrels.”
He confirmed that the company is working on developing more projects in Libya. Additionally, a contract has been signed for a second drilling rig to fulfill remaining exploration commitments, including potential early development in the Waha area.
He continued by saying that Repsol’s average global production reached 557,000 barrels per day — an increase of 3% compared to the first quarter — thanks to stronger contributions from the United Kingdom, Trinidad and Tobago, Eagle Ford, and Libya.
