Libya’s National Oil Corporation (NOC) has signed production-sharing agreements with several international energy companies following the country’s first licensing round in nearly two decades, Reuters reported on Monday.
The agreements were signed with Repsol, Turkish Petroleum, Eni and QatarEnergy, as well as a consortium comprising MOL Group, Turkish Petroleum and Repsol. The deals emerged from Libya’s 2025 bid round, under which NOC made new exploration acreage awards to raise oil production capacity to 2 million bopd from around 1.4 million bopd currently.
NOC chairman Massoud Suleman said the agreements reflected growing confidence in Libya’s oil and gas sector and would support exploration, development and production growth. Libya awarded exploration blocks in February to companies including Chevron, Eni, QatarEnergy and Repsol in its first licensing round since 2007.
Libya’s 2025 bidding round included 11 onshore and 11 offshore blocks across high-potential basins such as Sirte, Murzuq, and Ghadames, as well as unexplored acreage in the Mediterranean.
NOC engages in the exploration, development and export of Libya’s hydrocarbons and provides research, training, procurement and other services to the oil and gas sector.