Five international companies have been awarded licenses for oil and gas exploration in Libya, marking the country’s first bidding round in nearly two decades amid ongoing political division.
On Wednesday, Libya granted exploration licenses for oil and gas to five international companies and consortiums, including Chevron, Eni, QatarEnergy, and Repsol. This marks the first bidding round since 2007, aimed at revitalizing the sector despite the country's ongoing political divisions. The National Oil Corporation announced the successful bidders and designated significant areas in the Sirte and Murzuq basins, in addition to the enriched offshore Sirte basin.
The awarded licenses include a strategic partnership for Italy's Eni and QatarEnergy in offshore zone 01, enhancing their collaboration in several Mediterranean regions. Additionally, a consortium comprising Spain's Repsol, Hungary's MOL, and Turkey's state-owned TPOC secured offshore zone 07, while the American company Chevron received the exploration license for Sirte S4, marking an important return to one of Libya's wealthiest onshore oil and gas basins.
In a notable development, Nigeria's Eitus Nidia won the M1 license in the southern Murzuq basin, representing a rare entry for an independent African company into Libya's exploration and production sector. This initiative signifies Libya's intention to boost its oil and gas sector despite complicated political challenges, highlighting the ongoing interest from international players in the Libyan energy landscape.
