Libya plans to tender 22 oil exploration blocks as international interest grows

Libya's National Oil Company plans to tender 22 exploration blocks in 2025, signaling a potential increase in international oil company interest after years of sanctions and civil war. Repsol has already begun drilling its first exploration well. Despite ongoing political and security challenges, companies like ENI and BP are also starting exploration projects. Libya aims to boost oil production from 1.5 million barrels per day in 2024 to 2 million in 2025. However, geopolitical risks are rising, particularly due to Russia's increasing military presence in Libya. This situation could impact the stability of Libya's oil sector and the interests of foreign companies operating there.