Libya’s NOC signs production-sharing deals with foreign firms after licensing round
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, its chairperson Massoud Suleman said on Monday.
The agreements were signed with Spain’s Repsol and Tükiye’s State-owned Türkiye Petrolleri, Italy’s Eni and QatarEnergy, and a consortium comprising Hungary’s MOL Group, Türkiye Petrolleri and Repsol, Suleman said in a statement posted on social media.
The deals follow Libya’s 2025 bid round, under which the NOC awarded exploration acreage to foreign companies as the OPEC member seeks to attract investment and raise oil production capacity to two-million barrels a day from around 1.4-million barrels a day currently.
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, despite persistent political divisions between rival administrations in the country’s east and west.