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Libya to announce winners of first oil and gas licensing round in 18 years by early 2026
Libya is preparing for a major milestone in the revival of its energy sector. For the first time in nearly eighteen years, the National Oil Corporation (NOC) is set to reveal, in early 2026, the companies selected to receive new oil and gas exploration licenses. The announcement was confirmed by NOC board member Hussain Safar on Saturday during the Libya–Africa International Gas Forum in Tripoli.
According to Safar, the results will be published between February and March 2026. The tender includes around twenty offshore and onshore blocks, several of which are described as “highly promising” areas located in the Mediterranean Sea. This marks the first large-scale exploration call since the 2007–2008 round, which focused mainly on natural gas.
Libyan authorities have made their objective clear: attracting major international companies after years of political turmoil that hampered national output. The tender, launched last March, has already captured the attention of leading global players. Thirty-seven companies were pre-qualified, including ExxonMobil, Eni, TotalEnergies, Shell International, and British Petroleum.
With proven reserves estimated at 48.4 billion barrels—the largest on the African continent—Libya hopes to capitalize on its vast potential to revive production. Safar indicated that the new fields could increase national capacity to 2 million barrels per day in the coming years, up from roughly 1.4 million today. A first step toward 1.5 million barrels per day is expected within two years.
However, the country’s ambitions face serious political challenges. Since the fall of Muammar Gaddafi in 2011, Libya has been divided between two rival administrations: the UN-recognized Government of National Unity (GNU) in Tripoli, led by Abdelhamid Dbeibah, and a parallel authority in Benghazi backed by Field Marshal Khalifa Haftar. Persistent tensions and security risks around oil facilities continue to weigh on the sector’s stability.
Despite these obstacles, the NOC says it is committed to restoring investor confidence and reinforcing Libya’s position as a key energy player in the region. The publication of the selected companies in early 2026 will be a crucial test of international interest in a country striving to stabilize its economy through its abundant natural resources.
