Libya has just concluded its first major oil and gas licensing round in nearly two decades, marking a historic return of Western supermajors to the country’s energy sector. The Libyan National Oil Corporation (NOC) awarded five key exploration blocks to international consortia to help meet its target of producing 2 million barrels per day (bpd) by 2030.
Chevron: Marked its official return to Libya after a 16-year absence by winning onshore Contract Area 106 in the Sirte Basin. This follows a strategic Memorandum of Understanding (MoU) signed in January 2026 to evaluate further onshore potential.
Eni: Partnered with QatarEnergy to secure Offshore Area 01 in the gas-rich Cyrenaica zone. Eni remains Libya’s primary gas producer and is currently advancing the $8 billion “Structures A&E” offshore project, with first gas expected later this year.
Repsol: Led a consortium including Hungary’s MOL and Turkey’s TPOC to win Offshore Area 07. Separately, Repsol and TPOC secured the C3 block in the northeastern Sirte Basin.
Libya currently produces approximately 1.4 to 1.5 million bpd and aims for 1.6 million bpd by the end of 2026.
The 2026 awards utilized updated, investor-friendly Production Sharing Agreements (PSA) designed with simplified cost recovery and clearer profit-sharing to attract foreign capital despite ongoing political divisions.
Regional Focus: Most new awards are concentrated in the Sirte Basin (onshore) and the Mediterranean (offshore) to leverage existing infrastructure.
Summary of 2026 Licensing Results
Company/Consortium Block/Area Region
Chevron Contract Area 106 Onshore Sirte Basin
Eni & QatarEnergy Offshore Area 01 Offshore Cyrenaica
Repsol, MOL, TPOC Offshore Area 07 Offshore Mediterranean
Repsol & TPOC Block C3 Onshore Sirte Basin
Aiteo (Nigeria) Murzuq M1 Onshore Murzuq Basin.
Note by Alessandro Bazzoni