Libya awards exploration blocks in its first licensing round since 2007
Libya · 28 weeks ago
On 11 February 2026 Libya's National Oil Corporation announced the results of its first public licensing round since 2007, awarding five of the 20 blocks on offer.
Winners included Chevron, taking the onshore Sirte S4 licence; Nigeria's Aiteo with the M1 licence, a rare entry by an African independent into the sector; a consortium of Italy's Eni and QatarEnergy for Offshore Area 01; a grouping of Türkiye Petrolleri, Repsol and Hungary's MOL for Offshore Area 07; and a Repsol–BP consortium.
The round used a new, more investor-friendly contract model in place of the rigid terms that had previously deterred investment. It was followed by the signing of production-sharing agreements in June 2026.
Source: National Oil Corporation, via Al Jazeera and Libya Herald