Libya is preparing to disclose the names of international energy companies awarded new oil and gas exploration licences at the beginning of 2026, marking the country’s first licensing round in nearly two decades. The announcement will reveal the firms selected to operate offshore and onshore blocks following a competitive bid process last launched between 2007 and 2008, according to the AFP.
Hussein Safar, a member of the Board of Directors of the National Oil Corporation (NOC), told the AFP that the final results will be released between February and March. He made the remarks on the sidelines of the first Libya-Africa Gas Forum in Tripoli, describing the targeted areas as “high-potential offshore zones capable of significantly boosting national output.”
The new licensing round is part of Libya’s strategy to reinvigorate exploration, diversify foreign partnerships and expand production capacity toward two million barrels per day in the coming years. Current output stands at approximately 1.4 million barrels per day, though Safar said that a gradual rise to 1.5 million within two years is “practically guaranteed.”
In March, the NOC opened bids for more than 20 offshore and onshore blocks to attract global industry leaders. Following technical qualification, 29 companies advanced as operators and eight were cleared as investors. They include BP, ExxonMobil, Chevron, TotalEnergies and Italy’s Eni, reflecting a broad return of major energy corporations to Libya’s hydrocarbon sector.
Safar described the offered fields as commercially attractive, highlighting reserve strength and favourable seismic indicators. Libya holds an estimated 48.4 billion barrels of proven reserves, ranking first in Africa and ninth globally.
The NOC views the upcoming awards as a crucial step in stabilising long-term revenue and strengthening the sector’s institutional credibility after years of conflict-driven disruptions. Officials say the return of structured exploration will help accelerate investment, modernise production infrastructure and reinforce Libya’s position in global energy markets.
