Libya Energy Summit Drives New Investment Ahead of 2027 Edition

Since its launch in 2021, LEES has become an important meeting point for governments, national energy companies, investors, and international firms seeking opportunities in Libya's energy industry.

The Libya Energy & Economic Summit (LEES) is set to return in 2027 after helping secure billions of dollars in energy investments over the past five years, reinforcing its role as a key platform for attracting international capital into Libya's oil, gas, renewable energy, and infrastructure sectors.

Major energy deals fuel investment momentum

Since its launch in 2021, LEES has become an important meeting point for governments, national energy companies, investors, and international firms seeking opportunities in Libya's energy industry. The summit's strongest outcome came during the 2026 edition, when Libya's National Oil Corporation (NOC), TotalEnergies, and ConocoPhillips signed a 25-year, US$20 billion amendment to the Waha Concession. The agreement is expected to increase oil production to 850,000 barrels per day through redevelopment of mature fields, including North Zella and NC-98, with investment focused on enhanced oil recovery and infrastructure upgrades.

During the same event, NOC also signed a memorandum of understanding with Chevron to evaluate oil and gas exploration opportunities, field development, and enhanced recovery projects. The partnership later expanded to include assessments of unconventional resources in the Sirte, Murzuq, and Ghadames basins.

Additional agreements included a letter of intent between NOC subsidiary NAGECO and TGS to expand seismic surveys supporting future exploration and licensing rounds, while Libya's Ministry of Oil and Gas signed a cooperation agreement with Egypt to strengthen collaboration in petroleum, mining, technical expertise, and infrastructure development.

Renewable energy and international partnerships expand

Alongside hydrocarbons, LEES has increasingly focused on renewable energy projects as Libya works to diversify its energy sector. The 2024 summit highlighted progress on TotalEnergies' 500 MW Sadada solar photovoltaic project, being developed with the General Electricity Company of Libya (GECOL). The project remains one of the country's flagship renewable energy initiatives and is expected to improve grid stability while reducing dependence on oil-fired electricity generation.

That edition also marked Libya's renewed upstream licensing programme, attracting interest from international energy companies including Eni, Repsol, and BGN Energy. Discussions were also held on a proposed renewable energy interconnector between Libya and Malta to explore future cross-Mediterranean electricity trade.

The inaugural summit in 2021 laid much of the groundwork for these developments through announcements covering the Sadada solar project, gas-flaring reduction initiatives, and infrastructure improvements linked to the Misrata Free Zone, helping re-establish Libya as an investment destination after years of limited international engagement.

2027 summit aims to expand investment pipeline

Organisers say the 2027 edition will build on previous achievements by encouraging new investment across hydrocarbons, renewable energy, and supporting infrastructure while strengthening long-term partnerships between Libya and international investors. James Chester, Chief Executive Officer of Energy Capital & Power, said the summit has evolved into a leading platform for transforming Libya's energy potential into commercially viable projects backed by international capital. The upcoming event is expected to bring together policymakers, energy companies, financiers, technology providers, and industry experts to explore new opportunities that support production growth, energy diversification, and broader economic development across Libya.