Libya’s National Oil Corporation (NOC) has finalized three significant exploration and production agreements with major international oil and gas companies. These partnerships include Italy’s Eni, QatarEnergy, Spain’s Repsol, and Hungary’s MOL. The agreements stem from awards announced in February 2026 as part of 2025 international tender, which were part of Libya’s first exploration round since 2008. The NOC stated that these collaborations are crucial for bolstering exploration and development activities and drawing in new investments to support a rise in production.
The 2025 tender, launched by the NOC last year, saw five blocks awarded out of twenty that were made available, encompassing both onshore and offshore territories. The recent signings represent the contractual stage following the allocation of a portion of these exploration areas. Specifically, the exploration and production deals involve Spain’s Repsol in partnership with Turkish Petroleum, Italy’s Eni in partnership with QatarEnergy, and the Hungarian group MOL together with Turkish Petroleum and Repsol. These consortia’s structures align with the February award announcements for three of the five allocated blocks.
While the current announcement details these collaborations, it does not reference the two other blocks awarded previously: Block S4, secured by the US company Chevron, and Block M1 in the Murzuq Basin, awarded to Nigeria’s Aiteo. The pact between Eni and QatarEnergy pertains to the O1 offshore exploration license. This block, covering approximately 29,000 square kilometers, is situated in the offshore extension of the Sirte oil and gas province, a vital region for Libya’s energy industry. Eni is designated to operate this concession, with the consortium holding a 100% stake during the exploration and development phases. Plans include acquiring seismic data and conducting drilling operations within the initial five-year exploration period.
Another key partnership involves Repsol, Turkish Petroleum, and MOL, which were awarded offshore Block 07 in the Gulf of Sidra. This strategic location connects major producing areas to coastal export facilities. Additionally, Repsol and Turkish Petroleum secured onshore Block C3 in Cyrenaica, an area within the Sidra oil system, Libya’s primary producing basin.
These exploration and production deals empower the NOC to delegate exploration and development tasks to international partners while retaining public oversight of the nation’s resources. The participating companies will shoulder a substantial portion of the exploration risks, recoup their costs according to the agreements, and subsequently share any resulting production with the national company. Although the NOC did not disclose the financial terms of these agreements, the corporation highlighted that they signify growing international confidence in Libya’s oil and gas sector. The initiative aims to attract qualified investments, intensify exploration efforts, and contribute to the growth of national energy output.
The signing of these exploration and production deals occurs as the NOC is actively working to restore production capacity, reactivate facilities impacted by past conflicts, and strengthen Libya’s standing as a significant energy supplier in the Mediterranean region. Eni, which has had a presence in Libya since 1959, reported an equity production of approximately 162 barrels of oil equivalent per day in 2025.
