• Libya awarded four of 20 oil and gas blocks in its first licensing round since 2007, with five international companies and consortia selected.
• Chevron, Eni, QatarEnergy, Repsol, MOL, TPAO and Aiteo secured acreage across the Sirte and Murzuq basins, both onshore and offshore.
• Authorities aim to raise output from 1.4 million barrels per day to 1.6 million bpd by end-2026, as hydrocarbons account for 68% of GDP and 97% of exports.

Libya has announced the results of its first oil and gas licensing round since 2007, marking a formal return to international upstream tenders, the state-owned National Oil Corporation (NOC) said on Wednesday, Feb. 11.

The NOC awarded four of the 20 blocks offered, selecting five international companies or consortia as winners. The awarded acreage covers both onshore and offshore areas, including the Sirte and Murzuq basins in southern Libya.

Chevron secured the onshore Sirte S4 block in the Sirte basin. Eni and QatarEnergy jointly won offshore Block 01 in the Mediterranean sector of the Sirte basin. A consortium comprising Spain’s Repsol, Hungary’s MOL and Turkey’s TPAO obtained offshore Block 07 in the same area. Nigeria’s Aiteo secured the M1 block in the Murzuq basin.

The NOC said disagreements remain with some bidders over drilling commitments and contractual terms for the unawarded blocks. The company added that discussions could continue regarding those areas.

The announcement follows a statement in December 2025 in which the NOC said it would disclose decisions on new concessions in early 2026 and noted that several multinationals had qualified for the round.

This licensing cycle represents Libya’s first international bid round in nearly two decades, after the previous one in 2007. Agence Ecofin reported in late January 2026 that authorities plan to launch a second bidding round to sustain momentum.

The government aims to increase oil production from about 1.4 million barrels per day to 1.6 million bpd by the end of 2026, restoring output to pre-2011 crisis levels.

According to the African Development Bank, oil and gas accounted for about 68% of Libya’s GDP, 97% of exports and more than 90% of fiscal revenues in 2024, underscoring the sector’s central role in the economy.

This article was initially published in French by Abdel-Latif Boureima

Adapted in English by Ange J.A de BERRY QUENUM