Libya Grants Exploration Licenses to Chevron, Eni, QatarEnergy and Repsol in Major Oil and Gas Round
Libya has awarded new oil and gas exploration blocks to several international energy companies, including Chevron, Eni, QatarEnergy and Repsol, marking the country’s first licensing round in nearly two decades.
The bidding results were announced by Libya’s National Oil Corporation (NOC). The round the first since 2007 allocated exploration acreage in the onshore Sirte and Murzuq basins, as well as offshore areas in the Sirte Basin in the Mediterranean Sea.
Offshore Awards Strengthen Regional Partnerships
Eni and QatarEnergy were jointly awarded Offshore Area 01, further expanding their strategic cooperation in the Mediterranean region.
A consortium comprising Repsol, Hungary’s MOL Group and Türkiye’s Turkish Petroleum Corporation (TPAO) secured Offshore Area 07.
Onshore Expansion in Key Basins
Chevron was granted the Sirte S4 exploration license, signaling its return to one of Libya’s most established onshore hydrocarbon regions. The Sirte Basin remains central to Libya’s oil production.
In the Murzuq Basin, Nigeria-based Aiteo was awarded the M1 license, representing a notable entry by an African independent operator into Libya’s upstream sector.
Reviving Investment Amid Political Challenges
The launch of the licensing round reflects Libya’s efforts to attract foreign investment and boost upstream activity as it seeks to stabilize and expand production.
The country holds Africa’s largest proven oil reserves but has faced years of political fragmentation and operational disruptions.
By reactivating competitive licensing and bringing in major international operators, Libyan authorities aim to revitalize exploration activity and strengthen long-term production capacity despite ongoing political uncertainties.
