Tripoli, Libya — 2026-02-11 Libya Awards Oil Exploration Licences to Foreign Firms Amid Renewed Interest in Sector. Libya’s National Oil Corporation (NOC) has awarded new oil and gas exploration rights to a selection of foreign firms, marking a significant step towards revitalizing the country’s energy sector after years of civil strife.
The licensing round, the first since 2007, saw major international companies like Chevron and TotalEnergies secure rights to explore in the North African nation.
Among the winners were US oil giant Chevron and Nigeria’s Aiteo, Africa’s largest privately-owned energy company. Consortia involving Spain’s Repsol with British Petroleum, Eni North Africa with QatarEnergy, and Repsol with Hungary’s MOLGroup and Turkiye Petrolleri also secured licences.
The move comes as Libya seeks to rebuild its oil industry, which has been severely affected by the political turmoil that followed the 2011 overthrow of Muammar Gaddafi.
Despite the interest shown by international firms, experts noted that the response was smaller than anticipated, suggesting lingering concerns over political instability and security issues. “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, “Hamish Kinnear of UK-based risk consultancy Verisk Maplecroft told AFP.
The licensing round follows a $20 billion deal announced last month with France’s TotalEnergies and ConocoPhillips, aimed at boosting oil production over the next 25 years.
Prime Minister Abdelhamid Dbeibah, who announced the deal, set a target to increase daily oil production by 850,000 barrels within that timeframe, with Libya currently producing approximately 1. 4 million barrels per day.
The NOC has introduced a new, more investor — friendly contract model to replace rigid terms that previously discouraged investment.
NOC chief Masoud Suleman emphasized the importance of restoring trust and institutional work in the sector, part of a broader national path towards prosperity and growth. Further details regarding the licensing awards and the bidding system are expected to be announced in the coming days.
