Three basins have emerged as focal points of the 2025 licensing round: Sirte, Murzuq and Ghadames. These areas are recognized as some of Libya’s most promising hydrocarbon zones, offering substantial untapped resources and proven reserves that can play a pivotal role in supporting the country’s production goals. The Sirte Basin, located in the eastern part of Libya, remains the largest and most historically productive basin in the country, and is home to flagship assets like the Waha and Sarir fields. The basin’s infrastructure, however, faces challenges from years of underinvestment, underscoring the need for capital injection to modernize operations, improve efficiency and increase recovery rates.

Located in the southwest, the Murzuq Basin has gained attention for its high-quality light crude reserves and holds considerable potential for new discoveries. The Ghadames Basin, which extends into Algeria and Tunisia, offers both onshore and cross-border opportunities. Rich in both oil and natural gas reserves, it is a critical player for Libyan and regional energy cooperation. Investments here could help Libya meet domestic gas demand and bolster exports, contributing to broader regional energy security.

Revitalizing the Sirte, Murzuq and Ghadames basins offers more than just increased production capacity – it represents an opportunity to stabilize Libya’s economy, attract international partnerships and address the country’s infrastructure needs. By enhancing its production capabilities, Libya also aims to play a greater role within OPEC and the global energy market. For Libya’s efforts to be successful, there will need to be a concerted push toward regulatory reforms and transparent licensing processes. Libya’s latest move to open a new bidding round signals its determination to leverage its vast hydrocarbon wealth.

The potential of the Sirte, Murzuq and Ghadames Basins could provide a new chapter of growth and resilience for the Libyan energy sector. For international energy companies, this is a chance to tap into one of the most promising energy frontiers in North Africa, with broader implications for regional stability and energy market dynamics. As Libya looks to the future, successful partnerships in these basins could mark a turning point for a nation ready to reclaim its position as a major global energy player.

The Libya Energy & Economic Summit is set to take place in Tripoli on January 18-19, 2025. The event will bring together industry leaders, investors and policymakers, aiming to foster dialogue, secure investments and support the growth of Libya’s energy and infrastructure sectors. For more information, visit Libya Energy and Economic Summit | Libya | 18-19 January 2025