The National Oil Corporation of Libya today unveiled the much-anticipated results of the Libya Bid Round, the first auction of upstream assets in over 17 years.
The culmination of a competitive process that was launched in Tripoli in February 2025 and saw roadshows in Houston, London and Istanbul, marks a key turning point in the trajectory of the Libyan energy market.
The proceedings were conducted at a ceremony led by the NOC Libya Bid Round Team and attended by the legal representatives of the prequalified bidders from major international energy companies. In the spirit of transparency, and as per previous bid rounds, the proceedings were broadcast live on Libyan national television, with sealed bids and the results being announced in real time.
The results saw Chevron win in its bid for the onshore S4 block in the Sirte basin, marking the US energy major’s return to Libya following an absence of over 15 years. Repsol, the Spanish energy giant, consolidated its historically strong position in the Libyan market by winning the bidding for onshore Cyrenaica basin block C3 (in a consortium with Turkish Petroleum Overseas Company) and offshore block O7 (in a consortium with MOL and Turkish Petroleum Overseas Company). Qatar Energy, a new entrant to the Libyan market, saw its successful bid for offshore block O1 in a consortium with ENI). The Nigerian energy major, Aieto, secured its entry to the Libyan market with a successful bid for block M1 in the Murzuq basin.
The winning bidders will now progress to finalise and sign their respective Production Sharing Agreements. The Chairman of NOC, Mr Masoud Suliman, announced that a new bid round will be launched soon, and that NOC will revisit the terms offered for onshore and offshore blocks that did not attract any bids or where non-compliant bids were submitted.
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