Libya has awarded new oil exploration and production licences to foreign energy companies, marking the first time in 17 years that international firms have been invited back into the country’s upstream oil sector. The announcement was made on February 11, 2026, by the National Oil Corporation (NOC) at the conclusion of Libya’s first competitive licensing round since the mid-2000s. The move signals a strategic push to attract global investment and boost crude output amid renewed stability following years of political turbulence.
The latest licensing round resulted in several major international companies securing rights to explore and develop both onshore and offshore blocks. Among the successful bidders were established global players, including Chevron, Eni, QatarEnergy, Repsol, and national oil companies such as Türkiye’s TPAO, which secured onshore and offshore acreage. These awards reflect broad interest from Western, Middle Eastern, and regional energy firms seeking to capitalize on Libya’s substantial hydrocarbon potential.
Libya’s oil and gas industry is critical to its economy, accounting for the vast majority of state revenue. The sector has faced significant challenges over the past decade and a half due to internal divisions, intermittent production shutdowns, and security concerns. The resumption of a formal exploration bidding process points to institutional strengthening and a more transparent framework for allocating upstream contracts. Libya’s government and the NOC have stated that this licensing round forms part of a broader strategy to expand daily output and attract long-term investment.
Industry analysts note that despite strong interest and participation in the licensing process, the number of awarded blocks represents only a portion of the acreage initially offered. Contract terms and political risks remain key factors for investors weighing engagement in Libya’s complex operating environment. The success of this initiative will depend on continued improvements in governance, legal certainty, and security, alongside efforts to modernize ageing infrastructure and enhance production capacity.