The round resulted in five major international companies and consortia winning exploration and development contracts: a consortium of the Italian company Eni and QatarEnergy, a consortium of Spain’s Repsol and the Turkish Petroleum Corporation (TPAO), the American multinational energy corporation Chevron, Nigeria’s Aiteo Group, and Hungary’s MOL Group.
The NOC explained that several of the offered blocks were not awarded to any company due to non-compliant technical bids, while other blocks received no bids from participating companies.
Commenting after the announcement of the results, the NOC Chairman stated that the NOC is committed to implementing the agreements signed with the winning companies from the public bid round.
He added that the corporation will review the non-compliant bids submitted for some blocks, with the possibility of opening negotiations with participating companies to improve those offers.
It was also noted that the blocks which received no bids will be referred to the relevant committee to examine the reasons behind the lack of interest and to work on improving their terms ahead of the next bid round.
This round marks the first of its kind in nearly 17 years, in a move aimed at attracting foreign investment and enhancing Libya’s exploration and oil production capacities, as the NOC seeks to increase output levels and support the national economy.
Libya
Libya is a North African country with a rich history rooted in ancient civilizations like the Phoenicians and Romans, followed by centuries of Arab and Ottoman influence. In the modern era, it was an Italian colony before gaining independence in 1951, later becoming known for Muammar Gaddafi’s lengthy rule from 1969 until the 2011 revolution. Its cultural heritage includes UNESCO World Heritage Sites such as the ruins of Leptis Magna and the old town of Ghadamès.
National Oil Corporation
The National Oil Corporation (NOC) is the state-owned oil company of Libya, established in 1970 to manage the country’s hydrocarbon resources. It oversees all aspects of Libya’s oil and gas production, from exploration to export, and has been a central pillar of the national economy since its founding.
Eni
Eni is a traditional fortified village located in the mountains of northern Albania, known for its well-preserved medieval architecture and stone towers. Historically, it served as a strategic defensive settlement for local tribes and played a role in the resistance against the Ottoman Empire. Today, it is recognized as a cultural monument offering insight into Albania’s past.
QatarEnergy
QatarEnergy is the state-owned petroleum company of Qatar, originally founded in 1974 as Qatar General Petroleum Corporation. It is central to the nation’s economy and is a global leader in the production and export of liquefied natural gas (LNG).
Repsol
Repsol is a Spanish multinational energy company headquartered in Madrid, founded in 1987 through the merger of several state-owned entities. It is a major player in the global oil and gas industry, with operations spanning exploration, production, refining, and marketing.
Turkish Petroleum Corporation
The Turkish Petroleum Corporation, known today as TPAO, was founded in 1954 by the Turkish government to manage the country’s hydrocarbon resources. Its history traces back to the original “Turkish Petroleum Company” established in the Ottoman era in 1910, which was central to early oil exploration in the Middle East. It is a key state-owned entity responsible for the exploration, drilling, production, and refining of oil and natural gas in Turkey.
TPAO
TPAO, or Türkiye Petrolleri Anadolu Ortaklığı, is the national oil and gas company of Turkey, founded in 1954 by law to manage the country’s hydrocarbon resources. Its history is central to Turkey’s energy independence, evolving from domestic exploration to becoming an integrated company with international upstream and downstream operations.
Chevron
Chevron is a major American multinational energy corporation, originally founded in 1879 as the Pacific Coast Oil Company in California. It grew through mergers, most notably with Standard Oil of California, and today is one of the world’s largest integrated oil and gas companies.
Aiteo Group
The Aiteo Group is a Nigerian energy conglomerate founded in 2008, which grew significantly after acquiring oil mining licenses and assets from Shell in 2015. It is a major player in the country’s oil and gas sector, focusing on exploration, production, and power generation.
MOL Group
MOL Group is a Hungarian multinational oil and gas company, founded in 1991 following the restructuring of the state-owned oil and gas industry. It has since grown into a leading integrated Central and Eastern European corporation with operations spanning exploration, production, refining, and retail.
Al-Sarir Refinery
The Al-Sarir Refinery is a major oil refinery located in the Sirte Basin of eastern Libya. It was originally built in the 1990s to process crude oil from the nearby Al-Sarir field, one of Libya’s largest oil fields. The facility has faced significant damage and operational disruptions due to the country’s ongoing conflict and political instability.
