Libya Prioritises Upstream Investment With Dedicated Hub At LEES 2027 To Drive Exploration And Production

Libya is placing upstream investment at the core of its energy strategy, with a dedicated Upstream Hub set to convene during the upcoming Libya Energy & Economic Summit (LEES) 2027 in Tripoli from January 23–25. The day-long strategic platform will bring together the Ministry of Oil and Gas, the National Oil Corporation (NOC), international oil companies, service providers and investors to accelerate exploration, production growth and technology deployment across Libya’s hydrocarbon sector.

The Upstream Hub comes as Libya transitions from a successful licensing phase into an execution-driven growth cycle. Following the country’s first upstream licensing round in 17 years, the Ministry of Oil and Gas and NOC are now focused on converting newly awarded exploration acreage into production, while preparing a second licensing round expected in late 2026 or early 2027.

The 2025/2026 licensing round offered 22 exploration blocks across Libya’s most prospective onshore and offshore basins. Five blocks were awarded to international operators, with production sharing agreements signed in June 2026, while the remaining acreage is expected to return to market under revised fiscal terms through the new Exploration and Production Sharing Agreement (EPSA-V) framework.

Reflecting these developments, the Upstream Hub will open with “Licensing in Focus: 2027 Bid Round Expectations and Exploration Updates,” examining EPSA-V revisions, anticipated commercial reforms and exploration priorities as Libya seeks stronger participation in the relaunch of unawarded acreage.

The “Exploration Mandate: Onshore, Offshore and Frontier Basins” session will assess opportunities across the Sirte, Murzuq and Ghadames basins, as well as offshore prospects in the Pelagian Basin and frontier deepwater acreage. Discussions will support Libya’s objective of increasing crude production from approximately 1.4 million bpd to 1.6 million bpd in the near term, with a longer-term target of 2 million bpd.

Digital transformation will also feature prominently through the “AI, Digital Oilfields and Smart Production Technologies” session, showcasing advancements such as Sirte Oil Company’s AI-assisted drilling campaign using SLB technology, alongside smart field systems, real-time monitoring, cloud analytics and automated digital measurement solutions being deployed across Libya’s upstream operations.

As Libya targets the drilling of 70 to 100 new exploration and appraisal wells annually, the “Fast-Tracking Brownfield Redevelopment and Unconventional Plays” session will examine enhanced oil recovery, mature asset optimization and unconventional resource development. Ongoing work by established international operators and service firms including major global energy players highlights the role of redevelopment, infrastructure upgrades and shale resource evaluation in accelerating production growth.

Building domestic capability remains central to the Ministry’s strategy. The “Building the Service Ecosystem for Libya’s Production Growth” session will explore local content development, workforce training, technology transfer and partnerships between international operators and Libyan service companies to strengthen long-term industry capacity.

Completing the agenda, the “Gas as a Growth Engine” session will examine offshore gas development, domestic supply expansion and export potential, while the “Decarbonizing Libya’s Upstream Sector” session will focus on emissions reduction, digital efficiency, methane management and lower-carbon production practices.

Together, the Upstream Hub positions LEES 2027 as a leading platform for shaping Libya’s next phase of upstream investment, technological modernization and sustainable production growth.