economy
February 13, 2026
Foreign oil majors win exploration licenses in Libya
Libya’s National Oil Corporation says it has granted exploration licenses to international energy firms, including Chevron and Eni
TL;DR
- Libya awarded its first oil and gas exploration blocks in nearly two decades.
- Companies including Chevron, Eni, QatarEnergy, and Repsol secured exploration rights for five blocks.
- The awards cover onshore and offshore acreage in basins like Sirte, Murzuq, and the Mediterranean.
- This is part of the Government of National Unity’s ‘Return to Life’ initiative to revive the energy sector.
- Libya holds Africa's largest proven oil reserves but has faced challenges due to political division and violence.
- The country aims to increase oil output and gas exports by 2026 and 2030, respectively.
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