Panel Recap: Revitalising Libya’s Upstream - Investor Readiness, Security, and Strategic Vision
This year's Africa Energies Summit played host to our greatest ever number of African governments and ministries. This included Libya’s National Oil Corporation, which showcased its first licensing round in 17 years.
A distinguished panel joined the discussion to provide a firsthand overview of Libya’s offerings.
Libya’s Long-Term Vision:
✔️ Increase production to 2 million bpd within 2–3 years
✔️ Prioritise sustainability; from eliminating gas flaring to planting 1 million trees
✔️ Strengthen infrastructure with new pipelines & storage capacity
✔️ Offer investor-friendly fiscal terms, including profit-sharing from first production, tax coverage, and customs exemptions
Licensing Round Highlights
✔️ 22 blocks available (11 onshore, 11 offshore)
✔️ Free seismic data access via Halliburton’s iEnergy platform
Why Libya?
✔️ Low-cost production ($6–$7 per barrel)
✔️Strategic access to European markets
✔️ 50 billion barrels of oil reserves & 79 TCF of gas
✔️ Mature infrastructure, including a 6,000 km pipeline network
🌍 African NOCs and governments recognise this Summit as the most effective environment in which to showcase latest developments.
🌍 To promote your country's upstream strategy by joining us in 2026, contact Neil Borthwick.
