Libya oil licensing round attracts more than 40 companies
16 May 2025
Libya’s latest upstream licensing round has attracted more than 40 applicants, according to Abdolkabir Alfakhry, an adviser to Libya’s oil and gas minister.
Speaking at an event in Paris, he said the bid round signalled Libya’s integration into the global energy market.
However, amid progress on its first international upstream licensing round in 18 years, the country has seen an increase in violence.
On 12 May, Tripoli saw its most intense fighting in years following the reported killing of Abdul Ghani Al-Kikli, the commander who runs the powerful Stability Support Apparatus (SSA) militia.
A ceasefire was announced on 14 May.
Libya launched its latest oil licensing round in March 2025, offering 22 onshore and offshore blocks.
The country is targeting a production capacity of 2 million barrels a day (b/d) by 2028.
If the licensing round proves successful, with significant interest from international oil companies, it could help Libya stabilise its oil and gas sector.
However, if the bid round does not go according to plan, it may negatively impact sentiment about Libya’s oil and gas sector prospects, exacerbating the country’s wider economic problems.
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In July, MEED reported that feasibility studies for the project had been completed, but PIC was waiting for confirmation of the volumes of gas that would be available for the project as feedstock.
The Olefins IV project is expected to use natural gas produced by upstream operator Kuwait Oil Company (KOC), another KPC subsidiary.
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As part of PIC’s long-term strategy, which looks ahead to 2040, it is aiming to scale up its portfolio and leverage partnerships to add value.
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