Libya on Wednesday awarded oil and gas exploration blocks to foreign oil companies, including Chevron, Eni, QatarEnergy and Repsol, in its first licensing round in nearly two decades as it seeks to revitalise the sector despite ongoing political division. The National Oil Corporation (NOC) announced the winners of its first bid round since 2007, allocating key acreage across the onshore Sirte and Murzuq basins and offshore blocks in the Sirte basin of the gas-rich Mediterranean. The licensing round, in which five of 20 blocks on offer were awarded, follows a 25-year oil development deal last month with France's TotalEnergies and ConocoPhillips. Differences over drilling commitments and participation stakes meant several blocks were not awarded in the latest licensing round, National Oil Corporation Chairman Massoud Suleman told reporters. Libya is targeting a production capacity of 2 million barrels per day (bpd) from current output of around 1.4 million bpd.

Source: Libya Today February 11, 2026 16:54 UTC