Libya has assigned new oil and gas exploration rights to foreign firms, aiming to revamp the sector after years of civil strife. The country’s National Oil Corporation (NOC) announced the results of its first licensing round since 2007 on Wednesday. The licensing awards signal some renewed interest in Libya’s oil sector, which foreign investors had long been wary of after the country erupted into conflict in 2011 with the overthrow of longtime ruler Muammar Gaddafi. Libya remains politically divided between rival administrations in the east and west, and disputes over the central ‌bank and oil revenues often disrupt production at key oil fields. Prime Minister Abdelhamid Dbeibah, who announced the deal, said the goal was to increase daily oil production by 850,000 barrels within that timeframe.

Source: The North Africa Journal February 11, 2026 19:41 UTC