QatarEnergy has gained a license to explore the marine sector in Libya at the end of the so-called “Libya Bid Round,” which is its first move into the Libyan energy industry.
QatarEnergy stated in a statement that Libya’s National Oil Corp. has declared the outcomes of the competitive bidding procedure, the initial licensing round in the nation since 2007.
The exploration and production rights on Block O1 were granted to a joint venture of QatarEnergy, a 40 percent participating interest holder, and Italy-based Eni, which operates with a 60 percent stake.
In response to the development, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad Sherida Al-Kaabi, said, “We are pleased to have been awarded exploration rights in this area and are encouraged by the potential of Libya’s offshore sector and the opportunities to expand our footprint in North Africa.”
He stated, “I would like to thank and congratulate the Libyan authorities on the success of this licensing round. We look forward to working closely with the Libyan authorities and Eni to ensure the successful execution of the exploration program.”
However, Block O1 occupies the offshore Sirte Basin and covers an area of around 29,000 sq. km, with the water depth that goes as deep as 2,000 meters. In addition to Libya, QatarEnergy is still advancing its international presence, especially in Asia.
Recently, the company entered into a 20-year sales purchase contract with Petronas of Malaysia to supply 2 million tonnes per annum of liquefied natural gas as of 2028.
The agreement, which was signed at the LNG2026 conference in Doha, was the first long-term LNG agreement between the two state-owned energy companies. QatarEnergy indicated that the collaboration is a sign of “continued confidence and trust between the two organizations” and underscores their shared vision for a sustainable energy future.
Al-Kaabi said that the deal “highlights our continued commitment to supporting Malaysia’s growing energy needs, as well as those of our customers worldwide.”
The same conference also witnessed a memorandum of understanding signed with Japan, the Ministry of Economy, Trade and Industry, and JERA by QatarEnergy to provide extra LNG volumes in case of emergency, including natural disasters.
