Libya Launches Upstream Hub to Boost Oil and Gas Investment
Libya is set to enhance its oil and gas sector by launching an Upstream Hub during the Libya Energy & Economic Summit 2027. This initiative aims to connect the Ministry of Oil and Gas, the National Oil Corporation, international oil companies, and investors to drive exploration and production. The summit marks a shift from Libya's first upstream licensing round in 17 years to a phase focused on execution and growth. Libya plans to increase its crude output from 1.4 million barrels per day to 1.6 million, with a long-term goal of 2 million barrels per day. The program will address licensing reforms and explore opportunities in various basins, with a focus on technology and operational efficiency.