Libya's National Oil Corporation (NOC) has signed production-sharing deals with several international energy firms after the country's first licensing round in nearly 20 years, Chair Massoud Suleman said Monday.
The agreements were signed with Spain's Repsol and Türkiye's state-owned Turkish Petroleum Corporation (TPAO), Italy's Eni and QatarEnergy, and a consortium comprising Hungary's MOL Group, TPAO 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 Organization of the Petroleum Exporting Countries (OPEC) member seeks to attract investment and raise oil production capacity to 2 million barrels per day from around 1.4 million bpd currently.
Suleman said the agreements reflected growing confidence in Libya's oil and gas sector and would support exploration, development and production growth.
One of Africa's biggest oil producers, Libya awarded exploration blocks in February to companies including Chevron, Eni, QatarEnergy, TPAO, and Repsol in its first licensing round since 2007.
Foreign investors have been wary of putting money into Libya, which plunged into chaos since a NATO-backed uprising toppled and killed longtime dictator Moammar Gadhafi in 2011.
It remains divided between the U.N.-recognized government in the west and its eastern rival, backed by military commander Khalifa Haftar.
Disputes between them over oil revenues have often led to oilfield shutdowns and output disruptions.
