Top international oil companies, including ExxonMobil, Chevron, TotalEnergies, and Eni, are actively competing in Libya’s newly reopened oil and gas licensing round, according to Masoud Suleman, Chairman of the National Oil Corporation (NOC).
This marks Libya’s first major bid round since the country descended into civil conflict following the fall of Muammar Gaddafi in 2011.
The renewed offering has attracted strong interest from a wide array of global energy firms, signaling a potential turning point in Libya’s energy sector revival.
Suleman confirmed that nearly every major international oil company is pursuing opportunities in both offshore and onshore blocks.
The NOC expects to finalize production sharing agreements with successful bidders before the end of the year.
Libya is offering a diverse portfolio of exploration acreage, including fields with proven but undeveloped reserves. The government and NOC believe the country still holds vast untapped hydrocarbon potential beneath both its land and coastal waters.
While current oil production has stabilized, Libya aims to significantly boost output in the coming years—pending adequate investment and operational support from international partners.
Several companies have already returned to the Libyan market. Last year, BP and Eni resumed exploration activities after a decade-long hiatus.
Eni has since restarted drilling in the Ghadames Basin in partnership with BP and the Libyan Investment Authority.
In another key development, U.S.-based oilfield services company Weatherford has also resumed operations in Libya, marking its first return since the conflict began.
The renewed momentum suggests growing confidence in Libya’s energy sector, potentially setting the stage for a surge in exploration and production activity.
