Libya resumes oil exploration after 17 years
The National Oil Corporation of Libya has signed new exploration agreements with international companies, marking the first entrance of foreign private sector companies into oil and gas exploration projects in over 17 years. This move comes after the auction round launched in March 2025 and aims to increase reserves and production, as well as boost confidence in the Libyan oil sector by attracting companies such as Eni, Repsol, and Chevron. The focus is also on enhancing local content and employing Libyan personnel. This step represents a significant turning point for the recovery of the Libyan oil industry from the political and security turmoil the country has experienced since 2011.
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