As part of this expansion strategy, the NOC launched a new licensing round in March 2025 – the first since 2007 – offering 22 onshore and offshore blocks across major hydrocarbon basins. The round, introduced under Libya’s fifth-generation Exploration and Production Sharing Agreement, has drawn interest from more than 37 international oil companies (IOCs), with bids due in November 2025. This marks a major milestone in restoring confidence in Libya’s upstream industry and attracting diversified investment to underexplored regions.

Renewed Exploration Activity

Major IOCs are re-engaging in Libya’s energy revival. The NOC recently signed memoranda of understanding with bp, Shell and ExxonMobil, signaling renewed commitment to upstream development. TotalEnergies, Eni, Repsol and OMV have also expanded their operations through new exploration campaigns and production enhancement programs.

Among key projects is the $8-billion Structures A&E offshore gas development, led by the Eni–NOC joint venture Mellitah Oil and Gas. Once operational later this decade, the project is expected to produce up to 750 million standard cubic feet of gas per day, supporting both export and domestic supply.

An Integrated Energy Future

Natural gas development remains central to Libya’s long-term growth strategy, supporting exports to Europe while strengthening national power generation. Libya and Nigeria are currently exploring the feasibility of a new trans-Saharan gas pipeline to transport Nigerian gas to Europe via Libya, reinforcing the country’s emerging role as a strategic transit corridor.

Domestically, reforms in power generation and renewables are driving energy diversification. Zallaf Libya Oil & Gas Company recently completed the Erwan–El Sharara pipeline to boost production in the Murzuq Basin, while new gas-fired power plants – including the 1,044 MW Zliten facility – are under construction to enhance electricity reliability and support industrial expansion.

Mediterranean Energy Hub

Libya’s geographic position on the Mediterranean provides a natural bridge between African resources and European markets. Existing oil and gas export routes to Italy – along with ongoing discussions around a new trans-Saharan gas corridor – highlight its potential as a key energy transit hub. As Europe diversifies energy supply away from traditional sources, Libya’s proximity and existing infrastructure offer a competitive advantage over more distant producers.

With an estimated 91 billion barrels of oil equivalent in undiscovered resources, Libya remains one of Africa’s most resource-rich countries. This energy endowment, combined with its strategic coastal location, underpins ambitions to become a central player in the Mediterranean energy corridor. Integration with neighboring North African grids and investment in transmission and smart grid systems could also position Libya to participate in a future regional power market.

The Road Ahead: LEES 2026

Momentum around these initiatives will culminate at the Libya Energy & Economic Summit (LEES) 2026, taking place in Tripoli from January 24–26. The event will bring together government officials, NOC leadership and international partners to showcase progress across upstream projects, power generation and renewable integration. Positioned as a premier platform for dialogue and deal-making, LEES 2026 will highlight Libya’s evolution into a Mediterranean energy hub and attract new investment opportunities to sustain its energy renaissance.

Join industry leaders at the Libya Energy & Economic Summit 2026 in Tripoli and explore investment opportunities in one of North Africa’s most dynamic energy markets. LEES 2026 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.