International Majors Compete For Libya Contracts As Bid Round Extended

11 Jul 2025 Issue: 68 / 28 By: Nada Ahmed

The deadline for IOCs to submit bids in Libya’s licensing round is being extended into early 2026. Firms want more time to study the data room, although sources say this is in part due to delays in accessing key information. Security remains a key concern, but the industry’s largest players are all participating in the bid round.

Libya has extended the deadline for firms to submit bids for acreage through its licensing round amid huge IOC interest. After 100 international firms expressed interest in the 22 blocks on offer (MEES, 14 March), 44 have been qualified by Libya’s National Oil Corporation (NOC), an official at the firm says. NOC had initially set a deadline of mid-November for firms submitting bids, but this is now being pushed back into early 2026, with IOCs requesting more time to study the Virtual Data Room.

Libya’s first post-revolution licensing round has seen several delays over political and security issues in the past year (MEES, 3 January), before finally being launched in March (MEES, 7 March). In total 22 onshore and offshore blocks across the Murzuq and Ghadames basins, as well as offshore acreage, are on offer (see map). (CONTINUED - 1227 WORDS)