‎Seven companies were successful in bids for five plots (3 onshore and two offshore) as Libya announced today the results of its first public bidding round for oil and gas exploration‎ in 17 years. The rest either received no bids or the bids presented did not fulfil the NOC’s requirements. This, in turn, will lead to an economic revival that will guide the country towards stability and prosperity, while preserving Libya’s crude oil reserves for future generations. Masoud Suleiman clarified that the success of this round was not limited to the number and size of the companies that secured investment opportunities. It is noted that exploration had been halted in Libya for more than 17 consecutive years.

Source: Libya Today February 11, 2026 17:08 UTC