RIYADH: QatarEnergy has secured a marine exploration license in Libya following the conclusion of the “Libya Bid Round,” marking its entry into the country’s energy sector.
In a statement, QatarEnergy said Libya’s National Oil Corp. announced the results of the competitive bidding process, the first licensing round held in the country since 2007.
Exploration and production rights for Block O1 were awarded to a consortium comprising QatarEnergy, which holds a 40 percent participating interest, and Italy’s Eni, the operator, with a 60 percent stake.
Commenting on 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 added: “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.”
Block O1 is located in the offshore Sirte Basin and spans approximately 29,000 sq. km, with water depths reaching up to 2,000 meters.
Beyond Libya, QatarEnergy continues to expand its global presence, particularly in Asia. The company recently signed a 20-year sales and purchase agreement with Malaysia’s Petronas to supply 2 million tonnes per annum of liquefied natural gas starting in 2028.
The agreement, signed during the LNG2026 conference in Doha, represents the first long-term LNG deal between the two state-owned energy companies. QatarEnergy said the partnership reflects “continued confidence and trust between the two organizations” and underscores their shared vision for a sustainable energy future.
Al-Kaabi noted that the agreement “highlights our continued commitment to supporting Malaysia’s growing energy needs, as well as those of our customers worldwide.”
On the sidelines of the same conference, QatarEnergy also signed a memorandum of understanding with Japan’s Ministry of Economy, Trade and Industry and JERA to supply additional LNG volumes during emergencies, such as natural disasters.
