Libya Advances 2027 Oil Exploration Plans with Repsol, TPAO and MOL

Libya is moving ahead with plans to expand oil exploration, as the National Oil Corporation (NOC) begins technical discussions with Spain’s Repsol, Türkiye’s Turkish Petroleum Corporation (TPAO) and Hungary’s MOL over a major offshore project scheduled for 2027.

The consortium will explore offshore Block 22 in the Sirte Basin, where it plans to begin extensive seismic surveys in the second quarter of 2027. The programme includes a 3D seismic survey covering 2,676 square kilometres and a 2D seismic survey spanning 1,500 kilometres. The NOC confirmed the plans following its first technical meeting with the three companies on November 11.

The project marks another step in Libya’s efforts to attract international energy investment, identify new hydrocarbon reserves and strengthen its long-term production capacity. It also puts renewed focus on the country’s offshore potential as the NOC seeks to expand exploration activity across its oil and gas sector.

Libya Moves Ahead with Major Offshore Exploration

Block 22 lies in deep water, with depths reaching up to 2,000 metres. This makes the project a technically demanding undertaking that requires specialised offshore exploration capabilities.

The planned seismic surveys will help the consortium map underground geological structures and identify potential oil and gas deposits. The companies will use this data to assess promising exploration targets before deciding whether to proceed with exploratory drilling.

The NOC’s announcement of its first technical meeting with the consortium confirms that the companies have moved beyond the licensing stage and are now discussing the technical work needed to advance the project.

The consortium received its exploration licence in January as part of Libya’s first oil and gas licensing round since 2007. The return to competitive licensing after nearly two decades represents an important effort to bring international companies back into the country’s upstream sector.

The latest discussions also attracted international attention. Reuters reported on the NOC’s 2027 exploration plans, highlighting the scale of the proposed surveys and the importance of the project to Libya’s efforts to increase its hydrocarbon reserves.

Can Offshore Investment Help Libya Reach 2 Million Barrels per Day?

Libya has set an ambitious target of raising oil production capacity to 2 million barrels per day. Reaching that level will require more than restoring existing fields or improving output from current operations. The country also needs new discoveries, sustained exploration and investment in undeveloped resources.

Libya’s oil sector remains heavily dependent on established producing fields. While improving their performance can deliver additional barrels in the short term, the country must also identify new reserves to protect its production base over the longer term.

Offshore exploration could play an important role in that strategy. Block 22 offers the consortium an opportunity to assess a large deepwater area, while giving Libya another route to attract international technical expertise and investment.

However, seismic surveys do not guarantee commercial discoveries. The consortium must first assess the geological data, identify promising drilling locations and establish whether any discoveries can support commercially viable development. Even successful exploration could take several years to translate into additional production.

The NOC is also pushing existing international operators to accelerate their commitments. In a separate development, the corporation recently urged TotalEnergies to advance outstanding exploration work and project activities. As Libya Economic Review previously reported, the NOC wants faster progress on seismic surveys, exploratory drilling and the evaluation of existing discoveries.

Together, these developments show that Libya wants to turn renewed international interest into measurable progress across its upstream sector.

Libya’s Challenge Is Turning Exploration into Production

The Repsol, TPAO and MOL partnership offers an important indication of international interest in Libya’s offshore resources. But the bigger test will be whether the country can turn exploration agreements into discoveries, development projects and additional production.

International energy companies must consider Libya’s political and security environment, the reliability of operating arrangements and the financial terms attached to exploration and production agreements. Consistent project execution and a predictable investment environment will remain essential to attracting long-term capital.

The next major milestone will come in the second quarter of 2027, when the consortium plans to begin its seismic surveys. Their results will help determine whether Block 22 offers commercially attractive opportunities and whether the companies will move towards exploratory drilling.

For Libya, the stakes extend beyond one offshore block. Oil and gas remain central to government revenue, foreign currency earnings and the wider economy. Expanding exploration is therefore essential to maintaining the country’s long-term production potential.

The NOC has made attracting international investment a central part of its strategy. The Block 22 project will now test whether that strategy can deliver concrete results. If the surveys identify promising resources, Libya could strengthen its position as an attractive exploration destination and create new opportunities for future oil and gas development.