Through the Libya Bid Round, which has just ended, QatarEnergy has obtained its initial offshore exploration license to operate in Libya´s energy sector. The National Oil Corporation of Libya declared the winners of its competitive tender process, which represents the first upstream licensing round that Libya has conducted since 2007. The award provides a joint venture led by Eni from Italy with exploration and production rights to operate offshore Block O1, which Eni will run at a 60 percent share.
QatarEnergy holds the remaining 40 percent stake in the consortium. Saad Sherida Al-Kaabi, who serves as Qatar’s Minister of State for Energy Affairs and QatarEnergy President and CEO, welcomed the news because he believes the region will experience successful economic development.
The company sees offshore resources in Libya as valuable assets that will help establish its business presence throughout North Africa. Al-Kaabi recognized the successful bid round process conducted by Libyan authorities, while he confirmed that QatarEnergy will continue its close partnership with other organizations to enhance their exploration work.
The offshore Sirte Basin contains Block O1 which extends over an area of 29000 square kilometers and reaches water depths of almost 2000 meters. QatarEnergy expands its international operations in Asia while it develops its activities in Libya.
The company signed a 20-year liquefied natural gas supply agreement with Petronas which will deliver 2 million tonnes of LNG to Malaysia starting in 2028. The deal which both national energy companies signed at the Doha LNG2026 conference establishes their first long-term LNG partnership while showing their dedication to sustainable energy security.
Al-Kaabi explained that the agreement helps QatarEnergy deliver energy to support Malaysia’s growing electricity needs while the company maintains its ability to serve international clients.
QatarEnergy signed a memorandum of understanding with Japan’s Ministry of Economy Trade and Industry and JERA during the same event to create additional LNG supplies for emergency situations that include natural disasters.
