But with energy production and exports at their strongest since then, Libya is seeking to draw major global energy companies. The National Oil Corporation (NOC) did not announce the cost of the licences, and said there would be another bidding round later this year. “The TotalEnergies and ConocoPhillips deal showed that you can do gré-à-gré with the NOC and get better terms,” Porter added. Last month, Libya signed agreements worth more than $20 billion of investment by TotalEnergies and ConocoPhillips, to increase oil production over 25 years. Dbeibah, who announced the deal, said the goal was to boost daily oil production by 850,000 barrels within that time frame.

Source: The North Africa Journal February 12, 2026 09:44 UTC