On 11 February 2026, the National Oil Corporation (NOC) announced the results of its long-awaited oil and gas licensing round. This was the first licensing round since the toppling of the former regime in 2011 and aimed at restoring international confidence in the country’s energy sector. The successful bids were announced at a ceremony in Tripoli’s Rixos Hotel attended by NOC head Masoud Suleiman, Dbeibah and other GNU officials. They were dominated by international firms and consortia: 

• Block 1, offshore, Sirte Basin: consortium of ENI (60 percent) and Qatar Energy (40 percent); 
• Block 7, offshore, Gulf of Sidra: consortium of Spanish Repsol (40 percent), Türkiye Petrolleri (40 percent), and Hungary’s MOL Group (20 percent); 
• Block C3, onshore, Sire Basin: consortium of Repsol (60 percent) and Turkish Petroleum Oil Company (40 percent); 
• Block S4, onshore, Cyrenaica: Chevron;
• Block M1, onshore, Murzuq Basin: ATEO (Nigeria). 

While these five licences represent an important step forward in Libya’s efforts to reinvigorate its energy sector and re-engage IOCs, the results were somewhat disappointing. When the round was launched in March 2025, the NOC put up 20 blocks for exploration and development, 11 of them onshore and a further nine offshore. According to media sources, four of the contract areas that were awarded received only a single proposal, while one was the subject of competition between two consortia. The other blocks on offer received no bids or bids that were deemed unacceptable.

This round represents something of a mixed bag for Libya and the NOC. While the return of oil majors such as ENI, Chevron and Repsol will help to restore confidence to the energy sector, there is clearly still much work to be done to nurture investor confidence, despite the strong push made by the NOC to attract international companies. However, Suleiman explained that there would be another round before the end of 2026 and noted that the blocks that received no bids would be referred to the relevant committee in order to improve their terms before then. However, the uncertain political and security environment as well as internal issues in NOC continue to act as a deterrent.

The February 2026 issue of Libya Focus also includes the following:

Implications

Politics

• Saif al-Islam Qadhafi’s death marks a watershed moment
• Qadhafi’s death serves the interests of both camps
• Tetteh gives her latest UN Security Council briefing
• Dbeibah promises cabinet reshuffle

Security

• Islamist militant is handed to the US
• Trabelsi announces security reorganisation…

Energy & Economy

• NOC announces licensing round results
• NOC suspends procurement and supply procedures