Tripoli: The Ministry of Oil announced today the launch of applications for the ‘New Energy Tech’ initiative, which will run from April 25 to July 25. The initiative aims to integrate modern technologies, including artificial intelligence (AI), into the energy sector to improve performance, enhance efficiency, and support sustainable innovation within Libya.

According to Libyan News Agency, the initiative focuses on developing innovative technological solutions to address operational challenges in the oil and gas sector, promoting the use of AI to improve processes and decision-making, empowering local talent to build local solutions, and contributing to the transition towards a knowledge-based and innovative economy.

The Ministry indicates that the initiative targets a wide range of groups, including engineers, robotics teams in the ‘Libotex’ community, software developers, AI experts, academics and researchers, university students, startups, and professionals working in the energy sector.

The concept is
based on connecting real-world problems faced by energy companies with young innovators by receiving technological solutions, developing prototypes, evaluating them, and linking the winning solutions with companies for practical implementation.

The program offers participants opportunities to implement their solutions directly with oil and gas companies, the potential to establish startup technology companies, media and promotional support, and financial prizes for the best solutions. The initiative is expected to contribute to increased operational efficiency, reduced costs and emissions, the creation of Libyan technology companies, and the strengthening of an innovation-led economy.