TRIPOLI, Feb. 11 (Xinhua) -- Libya's National Oil Corporation (NOC) said Wednesday that several international companies have secured oil and gas exploration rights.
Five companies from Spain, Hungary, Nigeria, and Italy were awarded exploration blocks in the onshore Sirte and Murzuq basins and the offshore Sirte basin in the Mediterranean, the NOC said.
NOC Chairman Masoud Suleiman called the bid round a turning point for Libya's energy sector, saying the participation of major foreign firms reflects renewed international confidence in the country's oil industry.
Exploration in Libya had been largely suspended for more than 17 years before resuming in early 2025, Suleiman said. The latest round offered 20 blocks -- nine offshore and 11 onshore -- following seismic surveys and technical studies aimed at attracting investors.
Oil and gas exports are Libya's main source of revenue, but output has been repeatedly disrupted in recent years by conflict and political instability. ■