Outcomes from LEES 2026 continue to shape investment pipelines into the upcoming 2027 cycle. At the 2026 summit, Chevron officially signed a critical MoU with the NOC, marking its formal re-engagement in Libya’s upstream market after existing the country more than a decade ago. The initial agreement focused on evaluating onshore exploration, field development and advanced recovery technologies.

This milestone paved the way for immediate subsequent expansions. Following the summit, Chevron secured Contract Area 106 in the Sirte Basin during the country’s latest licensing round. Chevron and the NOC then executed a follow-up MoU to conduct a comprehensive technical study of the unexplored offshore Block NC-146, alongside a preliminary agreement to evaluate unconventional shale resources across the Sirte, Murzuq and Ghadames basins.

ConocoPhillips, in partnership with TotalEnergies, is also advancing the Waha concessions expansion following a 25-year extension worth $20 billion signed at LEES 2026, structured with NOC majority control, the deal targets an output expansion of up to 850,000 bpd across Waha Oil Company operations in the Sirte Basin.

To support these expanding footprints, premier oilfield service firms SLB, Baker Hughes and Haliburton are deploying AI-driven production optimization, directional drilling systems and gas-processing upgrades across Libya. These technologies support zero routine flaring initiatives and drive efficiency gains in mature Sirte Basin assets. Meanwhile, ExxonMobil is evaluating four northwest offshore blocks alongside its own Sirte Basin exploration acreage.

While broader infrastructure updates progress, some projects face stranded timeline adjustments. The North Gialo development remains delayed following an EPC contractor withdrawal, with re-tendering now scheduled for September 2026 under the Waha Oil Company framework. Once completed, the project is expected to add 100,000 bpd of crude and roughly 200 milion cubic feet per day of associated gas to Libya’s production profile.

“Libya is on the cusp of an opportunity to transition and to turn extraordinary wealth into wealth and prosperity through partnership with the United States,” said Massad Boulos, Senior Advisory for Arab and African Affairs at the U.S. State Department at LEES 2026. “American companies will help in this success, and they will bring unique technologies and efficiencies.”

Against this backdrop, market participation from U.S. operators continues to broaden, with majors and service firms aligning around long-cycle development opportunities, production enhancement programs and exploration-led expansion.

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.