Global oil and gas companies awarded exploration blocks in Libya
Libya’s National Oil Corp. completed the final stage of its public bidding round Feb. 11, 2026, and has awarded investment opportunities to five international oil and gas companies.
The companies include a consortium of Repsol, Türkiye Petrolleri AO (TPAO), and MOL Group; Eni and QatarEnergy; and a separate consortium comprising Repsol and a Turkish partner. Chevron Corp. and Aiteo (Nigeria) also were among the winners, the NOC said in a release Feb. 11.
After nearly 2 decades of halted exploration in Libya, the country began revitalization efforts early in March 2025 through a bid round with 20 blocks on offer (9 offshore, 11 onshore/nearshore).
Through a successful bid with MOL Group and Türkiye Petrolleri AO (TPAO), Repsol is slated to become operator of the O7 offshore exploration area in the Mediterranean Sea. The company will hold 40% of the joint venture, while TPAO also will hold 40%. MOL Group enters the country with a 20% share.
The O7 block—which lies about 140 km northwest of Benghazi—covers more than 10,300 sq km in water depths exceeding 1,500 m.
Chevron Corp. subsidiary Chevron Business Development EMEA Ltd. was designated as the winning bidder for Contract Area 106 in Sirte basin, the company said in a separate release Feb. 11.
The award comes weeks following a memorandum of understanding (MoU) between Chevron and the NOC in Tripoli to evaluate the development and exploration potential onshore Libya.
“Chevron is excited to enter Libya with the award of onshore Contract Area 106, which underscores our focus on North Africa and the Eastern Mediterranean region, and is a good fit in our exploration strategy to grow our portfolio with high-quality acreage and high impact prospects,” said Kevin McLachlan, vice-president of exploration at Chevron.
Eni and QatarEnergy were awarded exploration license O1, which lies in the offshore extension of the Sirte oil adn gas province, Eni said in its own release Feb. 11. Eni, as operator of the concession, said the 2D/3D seismic acquisition and drilling activities are planned over the first 5-year exploration period.
Formal signings are expectd by the end of February.
About the Author
Mikaila Adams
Managing Editor, Content Strategist
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was later named Managing Editor - News. Her role has expanded into content strategy. She holds a degree from Texas Tech University.