Libya’s oil and gas Licensing Round 2025

Historic Launch:

In March 2025, Libya’s National Oil Corporation (NOC) announced its first oil and gas exploration bidding round in over 17 years, signaling a major revival of the country’s energy sector.

Global Invitation:

Libya is inviting international partners and investors to explore 22 blocks (11 onshore, 11 offshore) across its most promising hydrocarbon basins.

Modernized Framework:

The initiative features a new Production Sharing Agreement (PSA) model, replacing the old EPSA-IV system.

Contractor returns increased: internal rates of return now up to 35.8% (previously 2.5%).

Faster payback periods due to improved profit-sharing with NOC.

Extensive Coverage:

The bidding round covers 128,714 sq km in key petroleum provinces: Sirte, Murzuq, Ghadames (onshore), and offshore areas including Sabratha Basin, Sirte Basin, and Cyrenaica Platform.

Strong International Interest:

Leading global oil companies and investors have qualified for participation, including BP, Chevron, ExxonMobil, Shell, TotalEnergies, Eni, LUKOIL, QatarEnergy, and others.

Qualified Operators:

29 major oil and gas companies from around the world.

Qualified Investors:

9 investment firms and energy companies, including Bares Holding, Cheiron Petroleum, Geo-Jade Petroleum, Indian Oil, and others.

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