Libya is considering a second oil licensing round after strong interest from international energy companies in its current tender, according to local media reports. Oil and Gas Minister Khalifa Abdulsadek outlined the plan during the Libya Energy and Economic Summit 2026, held in Tripoli from January 24 to January 26.
Second licensing round under consideration
Speaking at the summit on January 25, Abdulsadek said a second licensing round was “almost 90% certain.” He cited sustained interest from multinational companies as the main driver. According to the minister, the response to the current tender shows continued international appetite for Libya’s oil sector.
Abdulsadek also stressed the importance of running licensing rounds on a regular and predictable basis. He said this was essential for an economy that derives around 95% of its revenue from oil and gas.
For now, plans for a second round remain at an early stage. Authorities have not yet provided details on timing or scope. Libya is still preparing to publish the results of the current licensing round. The prime minister has said these results are expected in February 2026.
Momentum building in the oil sector
Talk of a second tender comes amid broader efforts to revitalise Libya’s energy sector. On January 24, the country signed a 25-year oil cooperation agreement with TotalEnergies and ConocoPhillips. The agreement was announced on the sidelines of the summit.
These developments follow the launch of a new bidding cycle in 2025 for onshore and offshore oil blocks. It marked Libya’s first licensing round in 18 years, according to AFP.
Production targets and exploration efforts
Libya holds Africa’s largest proven crude oil reserves, estimated at about 48.4 billion barrels. Current production averages around 1.4 million barrels per day. Authorities aim to raise output to roughly 1.6 million barrels per day by the end of 2026.
As part of this push, the state oil sector has stepped up efforts to attract foreign companies back into exploration. This includes renewed drilling plans by regional players such as Sonatrach. The Algerian state company recently announced the restart of hydrocarbon exploration in Libya after more than a decade.
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