New Oil Discovery in Libya: Opportunities and Prospects for Pakistan

Libya’s latest oil discovery in the Sirte Basin marks a significant development for the country’s energy sector and carries wider implications for regional and global energy markets. This IPS Insight examines the strategic importance of the discovery, its potential to support Libya’s economic recovery, and the opportunities it presents for energy-importing countries such as Pakistan. It further explores how Pakistan can leverage its positive diplomatic engagement with Libya to strengthen bilateral economic cooperation, particularly by encouraging investment in Libya’s oil and gas sector and advancing long-term energy security.