The relaunch is expected to take center stage at the Libya Energy & Economic Summit (LEES) 2027, scheduled for January 23–25 in Tripoli, where government officials, international oil companies and investors will review the next phase of upstream opportunities.

The initiative forms a central pillar of Libya’s strategy to expand crude oil production to 2 million barrels per day (bpd) by 2028–2030 while strengthening its position as a regional supplier of natural gas to European markets.

The new offering is expected to focus on high-potential acreage across the Sirte, Murzuq and Ghadames basins, alongside select offshore opportunities. Preparations are already underway to improve the commercial attractiveness of the bid round through fiscal, technical and administrative reforms.

Legal and financial teams are revising the recently introduced Exploration and Production Sharing Agreement (EPSA-V) framework, while technical teams continue to reprocess seismic data and update subsurface datasets for blocks that failed to secure investors during the previous tender.

Alongside contractual reforms, Libya is investing in high-resolution seismic reprocessing and expanded data-room access to provide prospective bidders with a clearer understanding of geological opportunities before committing exploration capital. Officials expect the enhanced datasets to reduce subsurface risk and improve participation from major international operators.

Updated digital prequalification systems are expected to streamline compliance procedures, while revised force majeure provisions aim to provide greater legal certainty for foreign investors operating in a complex regional environment.

As Libya’s largest energy and investment event, LEES 2027 is positioned to serve as the definitive showcase for the relaunch. The summit will provide the NOC with a platform to present finalized EPSA-V revisions, updated fiscal terms and newly reprocessed geological data directly to international investors.

During the 2026 edition of LEES, NOC Chairman Eng. Masoud Suleman said that despite market volatility, the institution is driving production toward an initial goal of 1.6 million bpd. The strategy, along with the licensing round, prioritizes infrastructure investments and international partnerships to reach a medium-term target of 2 million bpd.

The relaunch follows significant milestones achieved during the 2026 edition of LEES and Libya’s February 2026 licensing round. The tender marked the country’s first international upstream offering in 17 years and introduced the EPSA-V model, which was designed to provide faster cost recovery and improved risk compensation for investors.

Join industry leaders at the Libya Energy & Economic Summit 2027 in Tripoli and explore investment opportunities in one of Africa’s most dynamic energy markets. LEES 2027 offers a premier platform for partnerships, innovation and sector growth. Visit www.libyasummit.com to secure your participation. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.