The oil-focused website OilPrice reported on Wednesday that Libya’s licensing round, launched last year, offered 22 onshore and offshore blocks and attracted 44 applicants, including 37 pre-qualified companies. However, only 5 blocks were awarded in February 2026.
The website noted that among the main winners were Chevron, Eni, QatarEnergy, Repsol, and the Turkish Petroleum Corporation (TPAO), while dozens of other qualified companies chose not to submit final bids, despite Libya holding the largest proven oil reserves in Africa.
The report added that with limited new acreage available, achieving Libya’s goal of increasing production from around 1.4 million barrels per day to 2 million barrels per day by 2030 will become increasingly difficult, according to the website.
