National Oil Corporation

Name

National Oil Corporation

Legal name

National Oil Corporation

Website

https://noc.ly

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

National Oil and Gas Operations

NAICS

Crude Petroleum Extraction (21112), Petroleum Refineries (324110), Petroleum Bulk Stations and Terminals (424710)

SIC

Crude Petroleum & Natural Gas (1311), Petroleum Refining (2911), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Sulfur & Acid Gas Feedstocks (Sulfur, Sulfuric Acid, Mercaptans) (EUALAHAH)

Keywords

• Crude oil production
• Natural gas operations
• Petroleum refining services
• Petrochemical manufacturing
• Oil field services

Headquarters

HQ city

Benghazi

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain, Others

Revenue model

1. Crude Oil Export: NOC generates primary revenue from crude oil production and export. Libya holds Africa's largest proven reserves at 48 billion barrels and produces approximately 1.4 million barrels per day, with gross oil revenues of $2.82 billion in April 2026 and nearly $4 billion in May 2026. Exports go to Italy, Greece, Spain, Turkey, Egypt, and Nigeria.
2. Natural Gas Export: Revenue from natural gas production and export via the Greenstream pipeline to Italy. Libya holds 80 trillion cubic feet of gas reserves and plans to increase production to nearly 1 billion standard cubic feet per day by early 2030s for European export.
3. Refined Products and Petrochemicals: Revenue from refinery operations at Zawia (120,000 bpd capacity) and Ras Lanuf complexes, including petrochemical production of ethylene and polyethylene. NOC regained full control of Ras Lanuf refinery in May 2026 after ending partnership with Trasta.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

National Oil Corporation (NOC) is Libya's state-owned national oil company, managing the country's full oil and gas value chain. It oversees exploration and production of crude oil (targeting 2-3 million barrels per day from 48 billion barrels of proven reserves) and natural gas (80 trillion cubic feet of reserves), refining operations at Zawia and Ras Lanuf, petrochemical production, gas processing at Mellitah, and exports of crude oil, gas, and refined products to international markets. The company operates through wholly-owned subsidiaries and joint ventures with international oil majors including TotalEnergies, ConocoPhillips, Eni, Chevron, and Repsol.

Product overview

The National Oil Corporation (NOC) of Libya operates as a state-owned enterprise overseeing the entire oil and gas value chain through a portfolio of subsidiary and joint venture companies. The portfolio includes upstream operations (exploration and production) through companies like Waha Oil Company, Arabian Gulf Oil Company, Sirte Oil Company, and Zueitina; midstream and downstream operations including Zawia and Ras Lanuf refineries; petrochemical production at Ras Lanuf; and support services including drilling (National Drilling & Workover Company), geophysical surveys (North African Geophysical), engineering (Taknia Libya Engineering), and training institutes. NOC holds Africa's largest proven oil reserves and the fifth largest natural gas reserves on the continent, targeting production of 2-3 million barrels per day.

Differentiator

Problem solved

Functional benefit

Brands

• Think Tomorrow: Sustainability initiative focusing on environmental stewardship, renewable energy, and energy diversification including planting one million trees, near-zero gas flaring by 2030, solar energy development, and elimination of oil leakage.
• Graduate Programme

Products and services

• Crude Oil Production and Export Exploration, production, and export of crude oil from Libya's 48 billion barrels of proven reserves, shipped via Es Sider, Ras Lanuf, and Zawiya Mediterranean terminals to international refiners in Italy, Greece, Spain, Turkey, Egypt, and Nigeria. Customers are international energy companies, state buyers, and refiners.
• Natural Gas Production and Export
• Refined Petroleum Products
• Petrochemicals
• Domestic Petroleum Product Marketing and Distribution
• Oil Well Drilling and Workover Services
• Engineering, Procurement, and Construction Services
• Geophysical and Seismic Survey Services
• Fertilizer Production and Sales

Quantifiable outcome

• Production increased from 1.375 million bpd in 2025 to 1.44 million bpd in April 2026, highest since 2013
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

18 partnerships are on record, tiered major, minor and core.

• Trasta Energy (UAE)majorStrategic or Co-development Partner · 12 May 2026NOC regains full control of Ras Lanuf oil complex and refinery after ending decade-long partnership in Libyan Emirates Oil Refining Company (LERCO). Trasta Energy transferred all share ownership to NOC, resolving international legal disputes.
• Libyan Investment Authority (LIA)majorStrategic or Co-development Partner · 29 April 2026Libya's sovereign wealth fund partnering with Eni and BP on deepwater exploration in Gulf of Sirte Contract Area 38/3.
• Oil India / IndianOil ConsortiummajorStrategic or Co-development Partner · 27 April 2026Indian consortium with Oil India (25% participating interest) and IndianOil, operating Block Area 95/96 in Ghadames Basin. Fifth hydrocarbon discovery formally declared by NOC from exploratory well A1-96/02, with block operated by Sonatrach International Petroleum.
• Sulzer (Switzerland)minorImplementation/ SI/ Consulting Partner · 21 April 2026Swiss industrial engineering firm established joint venture Jawaby Sulzer Services with NOC subsidiary Jawaby Services & Investments Ltd at Misrata Free Zone. First in-country OEM-grade rotating equipment service facility for oil and gas, power generation, and industrial operations.
• ChevroncoreStrategic or Co-development Partner · 11 February 2026Chevron's strategic return to Libya after 16-year absence, winning Contract Area 106 in Sirte Basin through first licensing round since 2007. MoU signed January 24, 2026 for joint assessment of shale oil and gas resources in Sirte, Murzuq, and Ghadames basins, confirming approximately 123 trillion cubic feet of gas and 18 billion barrels of oil reserves. Also signed MoU for offshore Block NC146 exploration.
• EnicoreStrategic or Co-development Partner · 11 February 2026Italy's largest energy company with history in Libya since early 1950s. $8 billion Structures A&E offshore gas development targeting 750 million scf/d capacity by end 2027. Partnership with BP and LIA for deepwater exploration well 'Moamel Almatsoula' in Contract Area 38/3, Gulf of Sirte, drilled at 1,900 meters water depth. Also coordinating with NOC on Arctic Metagaz tanker incident response.
• RepsolmajorStrategic or Co-development Partner · 11 February 2026Spanish energy company operating Akakus Oil Operations joint venture with NOC. Won O7 offshore block (40% operator, 40% TPAO, 20% MOL Group) covering 10,300+ km² in Mediterranean Sea. Participation in Libya's first licensing round in 17 years.
• QatarEnergymajorStrategic or Co-development Partner · 11 February 2026Qatar's state energy company awarded exploration blocks in Libya's first licensing round since 2007.
• MOL Group (Hungary)majorStrategic or Co-development Partner · 11 February 2026Hungarian energy company entering Libya through O7 offshore block joint venture (20% stake, 40% Repsol as operator, 40% TPAO). Strategic MoU signed January 30, 2026 with NOC covering hydrocarbons exploration, production, technology innovation, and crude trading. Partnership aligned with MOL's goal of maintaining 90,000 boe/d production.
• Türkiye Petrolleri A.O. (TPAO)majorStrategic or Co-development Partner · 11 February 2026Turkish Petroleum won O7 offshore block (40%) with Repsol (40% operator) and MOL Group (20%) covering 10,300+ km² in Mediterranean.
• AiteominorStrategic or Co-development Partner · 11 February 2026Nigerian energy company secured foothold in Libya through first licensing round, representing significant international expansion beyond Nigerian operations.
• TotalEnergiescoreStrategic or Co-development Partner · 24 January 202625-year, $20 billion oil development agreement to more than double Waha Oil Company output from 350,000 to 850,000 barrels per day. TotalEnergies holds 20.42% stake alongside NOC (59.16%) and ConocoPhillips (20.42%). Extension of Waha concessions through December 31, 2050 signed January 2026. Also includes exploration programme for 19 concession areas with projected revenues exceeding $376 billion for Libya over 25 years.
• ConocoPhillipscoreStrategic or Co-development Partner · 24 January 202625-year, $20 billion oil development agreement through Waha Oil Company. ConocoPhillips holds 20.42% stake alongside NOC (59.16%) and TotalEnergies (20.42%). Deal aims to boost production capacity by up to 850,000 barrels per day.
• Egypt (Ministry of Petroleum)majorStrategic or Co-development Partner · 24 January 2026Libya-Egypt MoU signed at LEES 2026 to deepen bilateral cooperation in oil and gas covering upstream, midstream, and downstream activities. Framework for technical exchange, capacity building, and joint initiatives between NOC and Egyptian petroleum institutions.
• BPmajorStrategic or Co-development Partner · 15 January 2026Joint venture with Eni North Africa and Libyan Investment Authority (LIA) for deepwater exploration well drilling in Gulf of Sirte Contract Area 38/3 using Saipem 10000 drillship.
• Sonatrach International Petroleum Exploration and ProductionmajorStrategic or Co-development PartnerAlgerian state oil company operating Block Area 95/96 (Ghadames Basin) for Indian consortium. Long-standing EPSA partner with NOC.
• Wintershall DeamajorStrategic or Co-development PartnerGerman company involved in Libya's oil and gas sector since 1958. Participates in onshore production in Eastern Sirte Basin and holds stake in offshore Al-Jurf field. Partnership with Sarir Oil Operations (joint venture with Wintershall Dea Germany).
• HoneywellmajorImplementation/ SI/ Consulting PartnerAmerican technology company agreement with NOC to build two refining units in southern Libya at estimated cost of $500-600 million.

Scale indicators10 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• QatarEnergy: Qatar's state-owned national energy company and a current NOC partner (won blocks in 2025 licensing round). Comparable integrated NOC with substantial gas reserves, LNG export capacity, and IOC partnership model.
• Sonatrach: Algeria's state-owned national oil company and NOC's direct North African peer, with similar scale (~1.4M bpd production, 12B bbl reserves) and integrated upstream/downstream operations. Sonatrach is also an existing NOC partner (Block 95/96 operator).
• Pemex: Mexico's state-owned national oil and gas company, comparable as a state monopoly integrated NOC with significant reserves, refining operations, and joint venture history with international oil companies. Both face state-ownership governance challenges.
• Petrobras: Brazil's partially state-owned integrated NOC, comparable in deepwater exploration activities, refining and petrochemical operations, and large-scale IOC partnership structures. Recent Brazilian pre-salt licensing parallels Libya's renewed licensing round.
• ADNOC: Abu Dhabi National Oil Company, a comparable state-owned integrated NOC with similar Mediterranean-export positioning, refining capacity, and petrochemical operations. ADNOC has executed similar large IOC partnerships and licensing rounds.
• NNPC (Nigerian National Petroleum Company): Nigeria's state-owned national oil company, comparable as an African NOC with similar joint venture structure, IOC partnerships, refining operations, and exposure to political/governance challenges affecting output stability.

Broad incumbents

• Saudi Aramco: Saudi Arabia's state-owned national oil company, the world's largest integrated NOC with ~10M bpd production. Direct comparable as a state monopoly integrated oil and gas operator with reserves, refining, and petrochemicals.
• Kuwait Petroleum Corporation (KPC): Kuwait's state-owned integrated NOC, comparable in scale and integrated value chain (upstream, refining, petrochemicals, gas processing). A direct NOC structural peer though operating in a more stable jurisdiction.

Regional players

• Egyptian General Petroleum Corporation (EGPC): Egypt's state-owned national oil company and NOC's regional peer, currently purchasing 1M barrels monthly from Libya. Comparable as a North African NOC with refining and integrated operations.

Others

• TotalEnergies: Major IOC and NOC's largest current partner (20.42% Waha stake, $20B+ commitment, partner in Mabruk, Akakus, Sirte, and Mellitah). Relevant peer as a counterparty whose global upstream portfolio competes with NOC for IOC capital, but primarily a partner rather than competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/libyan-national-oil-corporation

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries22 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Oil Corporation