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 winners were:
- Repsol and Turkish Petroleum Oil Company (TPOC) Consortium– C3
- Repsol- TPOC- Hungary’s MOL Consortium – offshore 07
- Eni-Qatar Energy consortium – Offshore area 01
- Chevron – Onshore Sirte Basin S4
- Nigeria’s ATEO – Onshore M1
Only 5 blocks were successfully bid for out of the 20 on offer. The rest either received no bids or the bids presented did not fulfil the NOC’s requirements.
In a speech delivered on the occasion, the Chairman of the National Oil Corporation (NOC) Masoud Sulieman affirmed that the success of this licensing round, conducted in accordance with the highest standards of quality and transparency, represents a major turning point in the advancement of the Libyan oil sector and the doubling of Libya’s crude oil production. 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.
He further explained that the success of this round in attracting major international companies to invest in Libya is a step in the promising “Return to Life” project launched by the Tripoli based Libyan government, which is diligently overseeing its implementation and success. He commended the government’s role in supporting the NOC’s strategy in this direction, noting that this round is the most significant event in the NOC’s development journey.
Masoud Suleiman clarified that the success of this round was not limited to the number and size of the companies that secured investment opportunities. Rather, it represents a victory in restoring the world’s confidence in Libya’s ability to recover and develop its institutions in line with the rapid global advancements in various fields, particularly energy. He indicated that this confidence would have a positive impact on the Libyan economy by all measures.
It is noted that exploration had been halted in Libya for more than 17 consecutive years. The National Oil Corporation revived it at the beginning of last year, 2025, through a bidding round that toured a number of the world’s major countries, to present the investment opportunity project in 20 blocks, including 9 offshore blocks and 11 in areas close to Libyan lands, on which seismic surveys and technical studies were conducted to provide clear data for companies wishing to participate in the bidding round.
