Tripoli, Libya – 5 July 2026 – UCC Holding, through its subsidiary Urbacon Energy Libya, has signed an Exploration and Production Sharing Agreement (EPSA) with Libya's National Oil Corporation (NOC) and the Libyan Investment Authority (LIA) for Area 47 in the Ghadames Basin, marking a significant milestone in the Group's strategic expansion across the energy sector.
The agreement provides a framework for the exploration, development, and production of hydrocarbon resources in one of Libya's established petroleum regions. It reflects a shared commitment to unlocking the long-term potential of Area 47 through technical expertise, responsible investment, and the application of international best practices across the project's lifecycle.
The development program will increase production to approximately 80,000 barrels of oil per day, supported by an estimated US$1 billion investment.
As part of the agreement, Urbacon Energy Libya will serve as the operator during the exploration phase, leading exploration and appraisal activities in collaboration with the relevant stakeholders.
The signing marks another milestone in UCC Holding's strategy to strengthen its presence across the energy value chain by expanding its portfolio through investments in upstream energy, power generation, and strategic infrastructure projects in international markets.
Through Urbacon Energy Libya, UCC Holding will leverage its extensive project delivery capabilities, engineering expertise, and long-standing experience in delivering complex infrastructure developments to support Libya's energy sector and contribute to the sustainable development of its natural resources.
This agreement further reinforces UCC Holding's commitment to creating long-term value through strategic investments, supporting energy security, fostering economic development, and building partnerships that contribute to sustainable growth across the region.