Libya's Licensing Round Awards

In its first licensing round in over 17 years, Libya awarded exploration rights for five areas to a group of international companies. The awards were announced at a ceremony in Tripoli overseen by the National Oil Corporation (NOC) and the Government of National Unity. Notably, 15 of the areas offered did not receive any bids.

Successful Bidders and Awards

Chevron won onshore Area S4 in the Sirte basin, outbidding a group comprising TotalEnergies and ConocoPhillips. The company stated the award is an important milestone as it evaluates opportunities to support Libya's energy sector.

A consortium of Repsol and Turkish Petroleum (TPAO) won Area C3 in the Cyrenaica basin and offshore Area O7, the latter in partnership with MOL. MOL will hold a 20% stake in Area O7, with Repsol and TPAO each holding 40%. This offshore block covers over 10,300 square kilometres in water depths exceeding 1,500 metres.

An Eni-QatarEnergy consortium (60:40) successfully bid for offshore Area O1 in the Sirte basin. This block covers approximately 29,000 square kilometres in water depths up to 2,000 metres. Eni highlighted the block's notable exploration potential, including areas without 3D seismic coverage and various hydrocarbon indications. Eni will operate the concession, with plans to acquire seismic data and drill during a five-year exploration period. The agreement is expected to be formally signed before the end of February.

Nigeria's Aiteo won Area M1 in the Murzuk basin. Its legal representative had to sign a last-second written adjustment to its offer during the live results broadcast to ensure compliance.

Areas Receiving No Bids

No bids were submitted for numerous areas across multiple basins. These include areas C4 and C5 in the Cyrenaica basin; S1, S2, and S7 in the Sirte basin; G1, G2, and G4 in the Ghadames basin; and offshore areas O3, O8, O9, O10, O13, O14, and O15.