Through a consortium, Eni and QatarEnergy have won the offshore exploration License O1 as part of Libya’s National Oil Corporation (NOC) 2025 competitive bid round, further consolidating their upstream footprint in the country.
The offshore block spans around 29,000 square kilometers (km2) and is located in the marine extension of the prolific Sirte Oil and Gas Basin. The area is considered highly prospective, with significant zones still lacking 3D seismic data and the potential for additional hydrocarbon discoveries. Existing indications within the block include previously identified, but undeveloped, oil and gas finds.
Under the agreement, Eni will act as operator holding 60% interest, and QatarEnergy will hold a 40% participating interest throughout the exploration and potential development stages.
The initial five-year exploration phase will include the acquisition of 2D and 3D seismic surveys, followed by drilling activities.
The formal signing of the concession agreement is expected to take place in Tripoli before the end of February, attended by representatives from Libya’s NOC and the partner companies.
Eni and QatarEnergy have strengthened their cooperation in Libya in recent years through joint participation in upstream licensing rounds and offshore exploration activities. While Eni has been active in Libya since 1959 and remains the country’s largest international energy operator, QatarEnergy has expanded its presence through strategic partnerships, including consortium agreements with Eni.
Their collaboration reflects a broader relationship between the two companies, which also partner in major gas and liquified natural gas (LNG) projects outside Libya, combining Eni’s long-standing operational footprint in North Africa with QatarEnergy’s growing global upstream portfolio.
