
Libya’s Energy Opportunity: 22 Blocks, 91 Billion Barrels and a Gateway to Africa Europe Gas
The article explores Libya’s historic relaunch of its oil and gas exploration sector through the Licensing Round 2025, the first in over 17 years. Led by the National Oil Corporation (NOC), the round offers 22 exploration blocks—11 onshore and 11 offshore—across key basins such as Sirte, Murzuq, and Ghadames. It introduces a new Production Sharing Agreement (PSA) model that boosts contractor returns and shortens payback periods, making Libya more attractive to global investors. Major international oil companies, including BP, Eni, Shell, TotalEnergies, Chevron, and QatarEnergy, have qualified to participate. The NOC promoted the round through a global roadshow in Houston, London, and Istanbul, engaging over 150 companies and highlighting Libya’s plans to raise production from 1.4 to 2 million barrels per day. The article emphasizes that Libya, with vast untapped reserves and a strategic position linking Africa to Europe, is emerging as a high-reward frontier for exploration and investment. The upcoming Libya–Africa International Gas Forum 2025 in Tripoli will serve as the key platform for shaping the next phase of the country’s energy growth.