• Libya plans second oil licensing round after strong investor interest

• Minister says tender “almost 90% certain,” no timetable yet

• Push supports oil-dependent economy and output growth targets

Libya is planning a second oil licensing round after several multinational companies expressed interest in the current round, Libyan media reported, citing remarks by Oil and Gas Minister Khalifa Abdulsadek at the Libya Energy & Economic Summit 2026 in Tripoli, held from Saturday, Jan. 24, to Monday, Jan. 26.

Speaking on Jan. 25 during the event, Abdulsadek said a second tender for oil licenses was “almost 90% certain.” He added that the level of interest in the current round showed the appetite of international companies for Libya’s oil sector.

“We seek to keep this momentum going on a regular basis. This is a necessary step for an economy that depends 95% on oil and gas. This dependence makes it essential to sustain the sector through a steady and structured process,” the minister said, according to remarks reported by The Libya Observer.

For now, the second licensing round remains at the planning stage. The authorities have not yet communicated any timetable or scope. The country is still preparing to publish the results of the current round, which are expected in February 2026, according to the Libyan prime minister.

Momentum building since 2025

The mention of a second licensing round comes as several initiatives have been launched in recent months to support Libya’s oil sector. The most recent step was the signing on Jan. 24 of a 25-year oil cooperation agreement with TotalEnergies and ConocoPhillips, announced on the sidelines of the summit.

This momentum is part of a process launched by Libyan authorities last year, when Tripoli opened a bidding cycle for onshore and offshore oil blocks, the first such round in eighteen years, according to information relayed by AFP.

Libya holds the continent’s largest proven crude reserves, estimated at around 48.4 billion barrels, and produces an average of about 1.4 million barrels per day. The country has set a target to raise national oil output to around 1.6 million barrels per day by the end of 2026, according to official data.

Within this framework, the country has, through its state oil company, stepped up efforts to encourage multinationals to restart exploration activities. Ecofin Agency reported, for example, that Algeria’s state company Sonatrach announced the resumption of hydrocarbon exploration drilling, which had been interrupted for more than a decade.

Abdel-Latif Boureima