NOC signs 3 oil production-sharing agreements with international firms

The National Oil Corporation (NOC) announced on Monday the signing of three production-sharing agreements under the 2025 licensing round with several leading international oil and gas companies, as part of efforts to expand exploration and development activities and attract investment to support production growth plans.

The first agreement was signed with Spain’s Repsol, in partnership with the Turkish Petroleum Corporation (TPAO), to carry out exploration and development programs under the technical and contractual terms of the licensing round, according to a statement published by the NOC on Facebook.

The NOC also signed a second agreement with Italy’s Eni, in partnership with QatarEnergy, strengthening the presence of major international companies in Libya’s oil and gas sector and supporting plans to expand exploration activities.

The third agreement was signed with Hungary’s MOL Group, in partnership with TPAO and Repsol, as part of the corporation’s efforts to broaden its investment partnerships and benefit from international expertise in developing the sector.

The NOC said the agreements reflect growing international confidence in Libya’s oil and gas industry and form part of its strategy to attract quality investments and enhance exploration and development operations, contributing to higher production levels and greater value for the national economy.