The Chairman of Libya’s state National Oil Corporation (NOC), Masoud Suleiman, announced on his personal social media site, the official signing of Exploration Production and Sharing Agreements (EPSAs) for the 2025 bid round.
These were with consortiums that include several leading global energy companies, in what he referred to as a strategic move that reflects the growing international confidence in the Libyan oil and gas sector.
The signed agreements included three prominent international consortiums. The first consortium included the Spanish company Repsol in partnership with the Turkish Petroleum Company. The second consortium led by the Italian company Eni in partnership with QatarEnergy. The third consortium included the Hungarian Mall Group in cooperation with the Turkish Petroleum Company and the Spanish company Repsol.
Suleiman stressed that the conclusion of these agreements comes within the framework of the continuous efforts to stimulate exploration and development in oil fields and attract quality foreign investments.
He pointed out that these partnerships support Libya's ambitious plans to raise daily production rates and secure financial returns that contribute to achieving real added value to the national economy.
Libya Awards Oil and Gas Exploration Contracts in Landmark 17-Year First | Libya Herald